Pieris Pharmaceuticals, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

The income tax benefits are as follows:


	Years ended December 31,
	2013		2012
Current	$	—	$	22
Total income tax benefit	$	—	$	22

Principal Differences Between Income Taxes Computed At German Statutory Tax Rate And Effective Tax Rate

The applicable German statutory tax rate was 29.13% for the years ended December 31, 2013 and 2012. The principal differences between income taxes computed at the German statutory tax rate and the effective tax rate are as follows:


	Years ended December 31,
	2013			2012
Income tax expense (benefit) at the German statutory rate	$	19,280		$	(675,866	)
Increase in allowances on deferred tax assets		(37,210	)		666,417
Nondeductible expenses		17,930			9,444
Other		—			(17	)
Total income tax expense (benefit)	$	—		$	(22	)

Components Of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities related to net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income taxes purposes were as follows:


	December 31,
	2013		2012
Deferred tax assets
Net operating loss carryforwards	$	16,859,179	$	15,174,927
Deferred revenue		138,378		1,243,487
Equity issuance cost		102,935		98,813
Bank loan		23,014		—

Total deferred tax assets		17,123,506		16,517,227

Valuation allowance		17,053,767		16,407,955

Net deferred tax assets		69,739		109,272

Deferred tax liabilities
Useful life adjustment fixed assets		54,303		70,790
Bank loan		—		12,343
Adjustment restoration costs		—		10,008
Adjustment accruals		15,436		7,120
Market value of money market funds		—		9,011

Total deferred tax liabilities		69,739		109,272

Net deferred tax asset/(liability)	$	—	$	—