Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Income Taxes

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Note 10 - Income Taxes
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

NOTE 10 — INCOME TAXES

 

The utilization of Milestone Scientific's net operating losses may be subject to a substantial limitation due to the "change of ownership provisions" under Section 382 of the Internal Revenue Code and similar state provisions. Such limitation may result in the expiration of the net operating loss carry forwards before their utilization. Milestone Scientific has established a 100% valuation allowance for all its deferred tax assets due to uncertainty as to their future realization.