Annual report pursuant to Section 13 and 15(d)

NOTE 9: INCOME TAXES

NOTE 9: INCOME TAXES

12 Months Ended

Dec. 31, 2014

NOTE 9: INCOME TAXES

Clean Coal uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. During 2014 and 2013, Clean Coal incurred net losses and, therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is $19,673,529 at December 31, 2014, and will begin to expire in the year 2025. Section 382 of the Internal Revenue code limits the use of net operating losses where a change of control has occurred. The Company has changed control multiple times since inception resulting in such limitations.

At December 31, 2014 and 2013, deferred tax assets consisted of the following:

	2014			2013
Net operating loss carry-forward	$	6,885,735		$	4,970,715
Valuation allowance		(6,885,735	)		(4,970,715	)
Net deferred tax asset	$	-		$	-