Greenfield Farms Food Inc. (fka GRAS)

[C.G.B Spender]

Let’s see 2017 then... I’ll wait

Oooops...

NOTE 13 – INCOME TAXES



As of December 31, 2016, the Company had net operating loss carry-forwards of approximately $2,194,750, which will expire beginning in 2032. This represents the historical net operating loss carry-forwards of the Company for the fiscal years ended December 31, 2016 and 2015. A valuation allowance has been provided for the deferred tax asset as it is uncertain whether the Company will have future taxable income. A reconciliation of the benefit for income taxes with amounts determined by applying the statutory federal income rate of (34%) to the loss before income taxes is as follows:

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