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Note 6: Income Taxes
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3 Months Ended |
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Mar. 31, 2012
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| Income Tax Disclosure [Text Block] |
Note
6: Income Taxes
The
Company accounts for income taxes in accordance with
Accounting Standards Codification Topic 740, Income Taxes,
which requires a company to determine whether it is more
likely than not that a tax position will be sustained upon
examination based upon the technical merits of the position.
If the more-likely-than-not threshold is met, a company must
measure the tax position to determine the amount to recognize
in the financial statements.
At
the adoption date of January 1, 2007, the Company had no
unrecognized tax benefit which would affect the effective tax
rate if recognized.
The
Company includes interest and penalties arising from the
underpayment of income taxes in the statements of operations
in the provision for income taxes. As of March 31, 2012 and
December 31, 2011, the Company had no accrued interest or
penalties related to uncertain tax positions.
The
Company files income tax returns in the U.S. federal
jurisdiction and in the state of California. The Company is
currently subject to U.S. federal, state and local, or
non-U.S. income tax examinations by tax authorities since
inception of the Company.
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