INCOME TAXES (Details) - USD ($) |
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
Mar. 27, 2020 |
Dec. 31, 2020 |
Dec. 31, 2019 |
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| Income Tax Disclosure [Abstract] | |||
| Amount of federal and state NOLs | $ 51,000,000 | $ 42,000,000 | |
| Expiration Description | The Federal NOLs of $15 million generated in 2007 through 2017 will begin to expire in 2027 through 2037. The Federal NOLs of $36 million generated in 2018 through 2020 have no expiration. | ||
| Federal research and development credits, description | As of December 31, 2020 and 2019, the Company had approximately $1,055,000 and $851,000, respectively of Federal research and development credits available to offset future tax liability expiring from 2034 through 2040. | ||
| Federal research and development credits | $ 1,055,000 | $ 851,000 | |
| Income tax expense benefit, percentage | 50.00% | ||
| Operating loss carryforwards limitations, description | the Coronavirus Aid, Relief, and Economic Security Act, “the CARES ACT” was signed into legislation which includes tax provisions relevant to businesses that will impact taxes related to 2018, 2019, and 2020. Some of the significant tax law changes are to increase the limitation on deductible business interest expense for 2019 and 2020, allow for the five year carryback of net operating losses for 2018-2020, suspend the 80% limitation of taxable income for net operating loss carryforwards for 2018-2020, provide for the acceleration of depreciation expense from 2018 and forward on qualified improvement property, and accelerate the ability to claim refunds of AMT credit carryforwards. | ||
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- References No definition available.
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- References No definition available.
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- Definition Description of federal research and development credits. No definition available.
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- Definition Amount of current state, local, and federal tax expense (benefit) pertaining to income (loss) from continuing operations. No definition available.
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- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition A description of the limitations on the use of all operating loss carryforwards available to reduce future taxable income. No definition available.
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