Blink Charging Co. General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

The income tax provision (benefit) for the years ended December 31, 2015 and 2014 consists of the following:

	For The Years Ended December 31,
	2015			2014
Federal:
Current	$	—		$	—
Deferred		(3,704,115	)		(10,070,600	)
State and local:
Current		—			—
Deferred		1,496,815			(2,073,400	)
		(2,207,300	)		(12,144,000	)
Change in valuation allowance		2,207,300			12,144,000
Income tax provision (benefit)	$	—		$	—

A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

	For The Years Ended December 31,
	2015			2014
Tax benefit at federal statutory rate		(34.0	)%		(34.0	)%
State income taxes, net of federal benefit		(4.0	)%		(7.0	)%
Permanent differences		(11.1	)%		(3.3	)%
Other adjustment		(1.1	)%		(8.0	)%
Change in effective rate		23.4	%		0.0	%
Change in valuation allowance		26.8	%		52.3	%
Effective income tax rate		0.0	%		0.0	%

The tax effects of temporary differences that give rise to deferred tax assets are presented below:

	For The Years Ended December 31,
	2015			2014
Deferred Tax Assets:
Net operating loss carryforwards	$	20,237,500		$	17,499,000
Stock-based compensation		4,624,700			3,625,500
Provision for warrant liability		—			606,800
Accruals		1,581,900			2,397,300
Goodwill		2,318,500			2,501,500
Intangible assets		474,000			553,100
Allowance for doubtful accounts		53,600			—
Tax credits		448,300			409,000
Gross deferred tax assets		29,738,500			27,592,200
Deferred Tax Liabilities:
Fixed assets		(772,300	)		(833,300	)
Gross deferred tax liabilities		(772,300	)		(833,300	)
Net deferred tax assets		28,966,200			26,758,900
Valuation allowance		(28,966,200	)		(26,758,900	)
Deferred tax asset, net of valuation allowance	$	—		$	—
Changes in valuation allowance	$	2,207,300		$	12,144,000