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EXCEL - IDEA: XBRL DOCUMENT - SAUER ENERGY, INC.Financial_Report.xls
10-K - FORM 10K - SAUER ENERGY, INC.sauer8312012_10k.htm
XML - IDEA: XBRL DOCUMENT - SAUER ENERGY, INC.R6.htm
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EX-32.1 - EXHIBIT 32.1 - SAUER ENERGY, INC.exhibit321_ex32z1.htm
EX-31.1 - EXHIBIT 31.1 - SAUER ENERGY, INC.exhibit311_ex31z1.htm
v2.4.0.6
Note 8 - Federal Income Tax: Note 8 - Federal Income Tax (Policies)
12 Months Ended
Aug. 31, 2012
Policies  
Note 8 - Federal Income Tax:

Note 8 - Federal income tax:

 

No provision was made for federal income tax, since the Company had a significant net operating loss. Net operating loss carryforwards may be used to reduce taxable income through the year 2030. The availability of the Company’s net operating loss carryforwards are subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock,  unless the same or similar business is carried on. The net operating loss carryforward for federal and state income tax purposes was approximately $3,353,941, which will  expire in 2028 through 2032 if not utilized.

 

No provision was made for federal income tax, since the Company had an operating loss and has accumulated net operating loss carryforwards.

The Company generated a deferred tax credit of $1,270,500 through net operating loss carryforward, an increase of $686,500 in the fiscal year ended August 31, 2012.  The Company recorded a 100% valuation allowance for the deferred tax asset since it is more likely than not that some part or all of the deferred tax asset will not be realized.

 

 

Deferred Tax Asset

August 31, 2012

Net Operating Loss Carryforward

 $                3,353,941

Deferred Tax Asset

                   1,270,500

Valuation Allowance

                 (1,270,500)

Deferred Tax Asset (Net)

 $                             -