| Income Tax Disclosure [Text Block] |
NOTE 13 INCOME TAXES
For the years ended December 31, 2017, 2016 and 2015, components of our provision for income taxes are as follows: | Provision for Income Taxes | | 2017 | | 2016 | | 2015 | | | Deferred taxes | | $ | 10,416,171 | | $ | (19,987,585) | | $ | (5,003,713) | | | Provision for (Benefit from) Income Taxes | | $ | 10,416,171 | | $ | (19,987,585) | | $ | (5,003,713) | | The following is a reconciliation of income taxes computed using the U.S. federal statutory rate to the provision for income taxes:
| Rate Reconciliation | | 2017 | | 2016 | | 2015 | | | Tax at federal statutory rate (34%) | | $ | 4,194,556 | | $ | (19,592,592) | | $ | (4,779,205) | | | Non-deductible expenses | | | 6,158 | | | 2,558 | | | 6,599 | | | Excess tax benefit from stock option exercises | | | (453,217) | | | 15,055 | | | (89,597) | | | Adjust prior estimates to tax return | | | (58,766) | | | 167,526 | | | - | | | States taxes, net of Federal benefit | | | 124,200 | | | (580,132) | | | (141,510) | | | Effect of departure from State of Kansas | | | (350,059) | | | - | | | - | | | Adjustment for change in future effective tax rate (1)
| | | 6,953,299 | | | - | | | - | | | Provision for (Benefit from) Income Taxes | | $ | 10,416,171 | | $ | (19,987,585) | | $ | (5,003,713) | |
(1) The enactment of the Tax Cuts and Jobs Act provided for a decrease in the corporate tax rate to 21% from 35%, resulting in a net $6.95 million reduction to our net deferred tax asset as of December 31, 2017. The net deferred taxes consisted of the following at December 31, 2017 and 2016:
| Deferred Taxes: | | 2017 | | 2016 | | | Deferred tax liabilities | | | | | | | | | Property and equipment | | $ | 27,563,290 | | $ | 10,092,289 | | | | | | | | | | | | Deferred tax assets | | | | | | | | | Stock-based compensation | | | 6,667,643 | | | 3,814,909 | | | Operating loss and IDC carryforwards | | | 32,127,847 | | | 26,329,288 | | | Deferred tax assets | | | 38,795,490 | | | 30,144,197 | | | Net deferred income tax asset | | $ | (11,232,200) | | $ | (20,051,908) | |
As of December 31, 2017, the Company had net operating loss carry forwards for federal income tax reporting purposes of approximately $106.9 million which, if unused, will begin to expire in 2027 and fully expire in 2037.
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