For the year ended March 31, 2017 and the period from March 29, 2016 (inception) to March 31, 2016, the Company incurred net operating losses and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. At March 31, 2017, the Company had $30,379 of federal net operating losses. The net operating loss carry forwards, if not utilized, will begin to expire in 2036. The provision for income taxes consisted of the following components for the year ended March 31, 2017 and the period from March 29, 2016 (inception) to March 31, 2016:
The components of the Company's deferred taxes assets are as follows:
| March 31, | March 31, | |||||||
| 2017 | 2016 | |||||||
| Deferred tax assets | 7,923 | 2,406 | ||||||
| Less: valuation allowance | (7,923 | ) | (2,406 | ) | ||||
| Deferred tax assets, net | $ | - | $ | - | ||||
The reconciliation of the effective income tax rate to the federal statutory rate is as follows:
| Federal income tax rate | 34 | % | ||
| Increase in valuation allowance | (34 | )% | ||
| Effective income tax rate | 0.0 | % |