Veru Inc. Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Income Taxes (Tables)

3 Months Ended

Dec. 31, 2012

	Three Months Ended December 31,
	2012			2011
Income tax expense at statutory rates	$	1,210,000		$	929,000
State income tax, net of federal benefits		223,000			171,000
Effect of AMT expense		-			7,000
Non-deductible expenses		5,000			2,000
Effect of lower income tax rates on foreign income		(525,798	)		(298,693	)
Utilization of NOL carryforwards		(565,278	)		(579,309	)
Decrease in valuation allowance		(321,247	)		(159,613	)
Income tax expense	$	25,677		$	71,385