Monopar Therapeutics Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Provision for income taxes

		As of December 31,
		2018				2017
Current:
Federal		$	—			$	—
State			—				—
Total current			—				—
Deferred:
Federal			(71,615	)			—
State			—
Total deferred			(71,615	)			—
Full valuation allowance
Total provision⁽¹⁾		$	(71,615	)		$	—

(1)

Total provision consists of U.S. Federal R&D credits, net of California minimum tax.

Effective income tax rate reconciliation

		%
Federal income tax			21.00	%
State income taxes, less federal benefit			0.78	%
Tax Credits			1.87	%
Permanent differences			-0.13	%
Change in valuation allowances			-20.92	%
Other			-0.43	%
Effective Tax Rate Benefit (expense)			2.17	%

Deferred tax assets and liabilities

		As of December 31,
		2018				2017
Deferred tax assets:
Net operating loss carryforwards		$	467,186			$	186,019
Tax credit carryforwards			107,969				30,143
Stock compensation			138,111				58,536
Intangible asset basis differences			1,053,518				730,647
Gross deferred tax assets			1,766,784				1,005,345
Valuation allowance			(1,690,811	)			(1,000,987	)
Total deferred tax assets, net of valuation allowance			75,973				4,358
Deferred tax liabilities:
Net deferred tax liability			—				—
Net deferred taxes		$	75,973			$	4,358