Galaxy Gaming, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

INCOME TAXES

INCOME TAXES	3 Months Ended
Mar. 31, 2013
Income Tax Disclosure [Abstract]
INCOME TAXES	Our forecasted effective tax rate at March 31, 2013 is 37.1%, a 37.1% increase from the 0.0% effective tax rate recorded at March 31, 2012. After discrete benefit of 5.1%, the effective tax rate for the quarter ending March 31, 2013 is 32.0%. The discrete benefit is primarily attributable to the recognition of state net operating losses.

INCOME TAXES

3 Months Ended

Mar. 31, 2013

Our forecasted effective tax rate at March 31, 2013 is 37.1%, a 37.1% increase from the 0.0% effective tax rate recorded at March 31, 2012. After discrete benefit of 5.1%, the effective tax rate for the quarter ending March 31, 2013 is 32.0%. The discrete benefit is primarily attributable to the recognition of state net operating losses.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details