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

Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES

INCOME TAXES	9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]
INCOME TAXES	Our forecasted effective tax rate at September 30, 2014 is 47.9%, a 9.9% increase from the 38.0% effective tax rate recorded at September 30, 2013. The increase in the expected annual rate in 2014 was primarily due to the non-availability of the Federal R&D tax credit, since Congress has not extended this benefit yet for 2014. After a discrete expense of $7,000, the effective tax rate for the nine months ended September 30, 2014 was 48.9%. The discrete tax expense was primarily due to adjustments to the prior year domestic manufacturing deduction foreign tax credits

INCOME TAXES

9 Months Ended

Sep. 30, 2014

Our forecasted effective tax rate at September 30, 2014 is 47.9%, a 9.9% increase from the 38.0% effective tax rate recorded at September 30, 2013. The increase in the expected annual rate in 2014 was primarily due to the non-availability of the Federal R&D tax credit, since Congress has not extended this benefit yet for 2014.

After a discrete expense of $7,000, the effective tax rate for the nine months ended September 30, 2014 was 48.9%. The discrete tax expense was primarily due to adjustments to the prior year domestic manufacturing deduction foreign tax credits

- 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.

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