Components Of Income Tax Expense Benefit (Tables)	12 Months Ended
Components Of Income Tax Expense Benefit (Tables)	Dec. 31, 2012
Components Of Income Tax Expense Benefit
Income Tax Expense is comprised of	Income Tax Expense is comprised of the following: Fiscal Year ------------------------------------------- 2012 2011 2010 ---------- ---------- ---------- Current federal $ -- $ -- $ -- Current state and local -- 10,917 -- ---------- ---------- ---------- Deferred federal, state and local $ -- $ -- $ -- ========== ========== ==========
Income tax expense (benefit) is as follows	Income tax expense (benefit) is as follow: Fiscal Year ------------------------------------------- 2012 2011 2010 ---------- ---------- ---------- Computed "expected" Tax (Benefit) $(203,128) $(119,497) $(330,132) State and local income taxes, net of federal effect -- 10,917 -- Changes in Valuation Allowance and other adjustments 203,128 119,497 330,132 --------- --------- --------- $ -- $ 10,917 $ -- ========= ========= =========
Deferred tax liabilities are presented	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below. Fiscal Year --------------------------- 2012 2011 ---------- ---------- Deferred tax assets: Net operating loss carry-forward $ 414,867 $ 313,409 ---------- ---------- Total deferred tax assets 414,867 313,409 Valuation allowance against deferred tax assets (411,212) (309,553) Deferred tax assets net of valuation allowance 3,655 3,856 Deferred tax liabilities: Property and equipment 3,655 3,856 ---------- ---------- Total deferred tax liabilities 3,655 3,856 ---------- ---------- Net deferred tax assets $ -- $ -- ========== ==========

CHANCELLOR GROUP INC. 10-K