Cryo-Cell International, Inc. Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

12 Months Ended

Nov. 30, 2016

The Company recorded the following income tax provision for the years ended November 30, 2016 and 2015.

As of November 2016 and 2015 the tax effects of temporary differences that give rise to the deferred tax assets are as follows:


	2016
	Total Non-current
Tax Assets:
Deferred Income (Net of Discounts)	$	4,917,000
NOL’s, Credits, and Other Carryforward Items		459,000
Tax Over Book Basis in Unconsolidated Affiliate		1,678,000
Accrued Payroll		68,000
Reserves and Other Accruals		1,416,000
Stock Compensation		433,000
Depreciation and Amortization		616,000
RSA Buy-out		1,996,000

Total Assets:		11,583,000

Tax Liabilities:
Unrealized Gains on AFS Securities		(21,000	)

Total Liabilities:		(21,000	)
Less: Valuation Allowance		(2,301,000	)

Net Deferred Tax Asset		9,261,000


	2015
	Current		Non-current			Total
Tax Assets:
Deferred income (Net of Discounts)	$	218,000	$	4,406,000		$	4,624,000
NOL’s, credits, and other carryforward items		—		1,137,000			1,137,000
Tax over book basis in unconsolidated affiliate		—		1,686,000			1,686,000
Accrued payroll		55,000		—			55,000
Reserves and other accruals		1,063,000		—			1,063,000
Stock compensation		—		618,000			618,000
Depreciation and Amortization		—		7,000			7,000
RSA Buy-out		—		810,000			810,000

Total Assets:		1,336,000		8,664,000			10,000,000

Tax Liabilities:
Unrealized gains on AFS securities				(103,000	)		(103,000	)

Total Liabilities:				(103,000	)		(103,000	)
Less: Valuation Allowance				(2,630,000	)		(2,630,000	)

Net Deferred Tax Asset	$	1,336,000	$	5,931,000			7,267,000

A reconciliation of the income tax provision with the amount of tax computed by applying the federal statutory rate to pretax income follows:


	For the Years Ended November 30, 2016
	2016			%			2015			%
Tax at Federal Statutory Rate		(880,000	)		34.0			272,000			34.0
State Income Tax Effect		(94,000	)		3.6			29,000			3.6
Change in Valuation Allowance		—			0.0			264,000			33.0
Valuation Allowance Release		(329,000	)		(12.7	)		(8,151,000	)		(1,019.5	)
Permanent Disallowances		184,000			(7.3	)		160,000			20
Other		(40,000	)		1.6			269,000			33.6
Foreign tax credits		(109,000	)		4.3			(150,000	)		(18.8	)
Foreign tax withholding		109,000			(4.3	)		150,000	)		18.8

Total income taxes	$	(1,159,000	)		44.7		$	(7,157,000	)		(895.3	)

The table below summarizes the open tax years and ongoing tax examinations in major jurisdictions as of November 30, 2016:


Jurisdiction	Open Tax Years	Examinations in Process
United States – Federal Income Tax	2012 - 2015	For the Year Ended November 30, 2014
United States – Various States	2011 - 2015	N/A