Fortress Biotech, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets consisted of the following:

		As of December 31,
		2015			2014
Deferred tax assets:
Net operating loss carryforwards		$	54,249		$	38,974
Amortization of up-front fees			4,442			2,668
Amortization of in-process R&D			599			525
Stock compensation			8,158			4,512
Accruals and reserves			210			518
Tax Credits			4,583			3,856
Unrealized loss on investments			358			-
Total deferred tax assets			72,599			51,053
Less valuation allowance			(66,730)			(50,567)
Net deferred tax assets		$	5,869		$	486

Deferred tax liabilities:
Unrealized gain on investment		$	-		$	(486)
Basis in subsidiary			(5,869)
Total deferred tax assets, net		$	-		$	-

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rates and the effective tax rates is as follows:

		For the Year Ended December 31,
		2015			2014			2013
Percentage of pre-tax income:
U.S. federal statutory income tax rate			35	%		35	%		35	%
State taxes, net of federal benefit			5	%		5	%		4	%
Credits			1	%		6	%		4	%
Non-deductible items			-	%		(1)	%		(2)	%
Other			-	%		-	%		(1)	%
Change in valuation allowance			(44)	%		(45)	%		(40)	%
Change in subsidiary basis			3	%		-	%		-	%
Effective income tax rate			-	%		-	%		-	%