NOTE 4 -- INCOME TAXES
A reconciliation of the income tax provisions computed at statutory rates to the reported income tax provision for the period ended December 31, 2017 and 2016 is as follows:
| December 31, 2017 | December 31, 2016 | |||||||
| Statutory tax rate | 34 | % | 34 | % | ||||
| Net loss | $ | (15,465 | ) | $ | (3,500 | ) | ||
| Expected recovery | (5,258 | ) | (1,190 | ) | ||||
Effect of change in enacted future statutory
tax rate
|
2,465 | - | ||||||
| Change in valuation allowance | 2,793 | 1,190 | ||||||
| $ | - | $ | - | |||||
The significant components of the Company’s deferred income tax assets after applying enacted corporate tax rates at December 31, 2017(21%) and 2016 (34%) is as follows
| Operating loss carryforward | $ | 3,983 | $ | 1,190 | ||||
| Valuation allowance | (3,983 | ) | (1,190 | ) | ||||
| $ | - | $ | - | |||||
The net federal operating loss carry forward will expire in 2037. This carry forward may be limited upon the consummation
of a business combination under IRC Section 381. The Company has open tax years of December 31, 2016 and 2017.