Note 12. Income Tax Accounting
MEDITECH follows the provisions of ASC 740-10, Accounting for Income Taxes. The current and deferred components of the State and Federal income taxes for the three years ended December 31 are as follows:
| | 1 year | 1 year | 1 year |
| | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 |
| |
|
|
|
| State current | $2,737,228 | $2,626,131 | $3,225,483 |
| State deferred | (8,010) | (198,359) | 310,083 |
| |
|
|
|
| State income tax | $2,729,218 | $2,427,772 | $3,535,566 |
| |
|
|
|
| Federal current | $21,719,429 | $29,857,284 | $20,103,177 |
| Federal deferred | 713,775 | (3,204,306) | (4,581,540) |
| |
|
|
|
| Federal income tax | $22,433,204 | $26,652,978 | $15,521,637 |
| |
|
|
|