MariMed Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

NOTE 7 - INCOME TAXES (Tables)

NOTE 7 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012


Deferred tax asset - gross	$	463,000
Valuation allowance		(463,000	)

Net deferred tax asset	$	—

Reconciliation of income taxes

	2012		2011
Income tax computed at the federal statutory rate	34	%	34	%
Income tax computed at the state statutory rate	5	%	5	%
Valuation allowance	(39	%)	(39	%)

Total deferred tax asset	0	%	0	%

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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