Entity information:
NOTE
4
– INCOME TAXES
 
The provision for (benefit from) income taxes differs from the amount computed by applying the statutory
United States federal income tax rate of
34%
for the periods presented to income (loss) before income taxes. The sources of the difference are as follows:
 
   
Year ended
December 31,
2017
    
Year ended
December 31,
2017
  
                 
Expected tax at 34%
   $
(6,693
 )   $
(7,914
 )
                 
Remeasurement of deferred income tax assets from 34% to 21% (a)    
31,061
      
-
  
                 
Increase (decrease) in valuation allowance
    
(24,368
 )    
7,914
  
                 
Income tax provision
   $
-
     $
-
  
 
Significant components of the Company's deferred income tax assets are as follows:
 
   
December 31,
2017
    
 
December 31,
2016
  
                 
Net operating loss carryforward
   $
50,176
     $
74,544
  
                 
Less valuation
allowance
    
(50,176
 )    
(74,544
 )
                 
Deferred income tax assets - net
   $
-
     $
-
  
 
(a) As a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on
December 22, 2017,
the United Sates corporate income tax rate is
21%
effective
January 1, 2018.
Accordingly, we have reduced our deferred income tax asset relating to our net operating
loss carryforward (and the valuation allowance thereon) by
$31,061
from
$81,237
to
$50,176
as of
December 31, 2017.
 
Based on management
‘s present assessment, the Company has
not
yet determined it to be more likely than
not
that a deferred tax asset of
$50,176
attributable to the future utilization of the
$238,932
net operating loss carryforward as of
December 31, 2017
will be realized. Accordingly, the Company has provided a
100%
allowance against the deferred tax asset in the financial statements at
December 31, 2017.
The Company will continue to review this valuation allowance and make adjustments as appropriate. The net operating loss carryforward expires in years
2024,
2025,
2026,
2027,
2028,
2029,
2030,
2031,
2032,
2033,
2034,
2035,
2036
and
2037
in the amounts of
$7,297,
$12,450,
$9,621,
$20,306,
$16,739,
$15,325,
$16,318,
$18,203,
$19,160,
$20,410,
$20,535,
$19,605,
$23,278
and
$19,685,
respectively.
 
Current tax laws limit the amount of loss available to be offset against future taxable income w
hen a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income
may
be limited.