Blink Charging Co. Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

The income tax provision (benefit) for the years ended December 31, 2016 and 2015 consists of the following:

	For The Years Ended December 31 ,
	2016			2015
Federal:
Current	$	-		$	-
Deferred		(2,562,884	)		(3,704,115	)

State and local:
Current		-			-
Deferred		(301,516	)		1,496,815
		(2,864,400	)		(2,207,300	)
Change in valuation allowance		2,864,400			2,207,300
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,
	2016			2015
Tax benefit at federal statutory rate		(34.0	)%		(34.0	)%
State income taxes, net of federal benefit		(4.0	)%		(4.0	)%
Permanent differences		1.2	%		(11.1	)%
Prior period adjustments		0.0	%		(1.1	)%
Other		(0.4	)%		23.4	%
Change in valuation allowance		37.2	%		26.8	%
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,
	2016			2015
Deferred Tax Assets:
Net operating loss carryforwards	$	22,496,500		$	20,237,500
Stock-based compensation		4,571,900			4,624,700
Provision for warrant liability		-			-
Accruals		2,295,200			1,581,900
Goodwill		2,318,500			2,318,500
Intangible assets		426,400			474,000
Allowance for doubtful accounts		16,100			53,600
Tax credits		478,300			448,300
Gross deferred tax assets		32,602,900			29,738,500
Deferred Tax Liabilities:
Fixed assets		(772,300	)		(772,300	)
Gross deferred tax liabilities		(772,300	)		(772,300	)
Net deferred tax assets		31,830,600			28,966,200
Valuation allowance		(31,830,600	)		(28,966,200	)
Deferred tax asset, net of valuation allowance	$	-		$	-

Changes in valuation allowance	$	2,864,400		$	2,207,300