2. INCOME TAXES
As of December 31, 2017, the Company had net operating loss carry forwards of approximately $68,713 that may be available to reduce future year's taxable income through 2037. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
The provision for federal income tax consists of the following for the years ended December 31:
| 2017 | 2016 | |||
| Current | $ | - | $ | - |
| Deferred | ||||
| Net Provision for income taxes | $ | - | $ | - |
The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applicable statutory U.S. tax rate for the years ended December 31, 2017 and 2016 are analyzed below:
| Dec. 31, 2017 | Dec. 31, 2016 | |
| U.S. Statutory Income tax rate | 34% | 34% |
| Provisional re-measurement of deferred taxes | (13)% | -% |
| Changes in valuation allowance | (21)% | (34)% |
| Effective income tax rate | 0% | $ 0 |
Significant components of the Company's deferred taxes as of December 31, 2017 and 2016 were as follows:
| 2017 | 2016 | |
| Deferred tax asset attributable to: | ||
| Net operating loss carryover | $14,430 | $14,430 |
| Less: valuation allowance | (14,430) | (14,430) |
| Net deferred tax asset | $ 0 | $ 0 |