Monarch Investment Properties, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - May 4, 2012

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v2.4.0.6
Income Taxes
 3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Income Taxes

Note 7 – Income Taxes

 

FASB ASC 740 - Income Taxes, provides for the recognition and measurement of deferred income tax benefits based on the likelihood of their realization in future years. A valuation allowance must be established to reduce deferred income tax benefits if it is more likely than not that a portion of the deferred income tax benefits will not be realized. Therefore, a valuation allowance equal to the potential deferred tax benefit has been established in full, resulting in no deferred tax asset as of the balance sheet dates.

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