v3.25.2
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

Note 7 – Income Taxes

 

The Company estimated NOL carry-forwards for Federal and State income tax purposes of $2,207,063 and $1,570,215 as of December 31, 2024, respectively, and $1,275,837 and $638,989 for federal and state as of December 31, 2023, respectively. No tax benefit was reported with respect to these NOL carry-forwards in the accompanying financial statements because the Company believes the realization of the Company’s deferred tax assets was not considered more likely than not to be realized and accordingly, the potential tax benefits of the deferred tax assets are fully offset by a full valuation allowance. The Company’s deferred tax assets and liabilities as of December 31, 2024, and 2023 are as follows:

 

   2024   2023 
   Year ended December 31, 
   2024   2023 
Deferred tax assets:          
Net Operating Loss Carryforwards  $549,202   $295,690 
Total deferred tax assets   549,202    295,690 
           
Valuation allowance   (549,202)   (295,690)
Net deferred Tax Assets (Liabilities)  $-    - 

 

The differences between the total calculated income tax provision and the expected income tax computed using the U.S. federal income tax rate are as follows:

 

   2024   2023 
Tax benefit at statutory tax rate  $(210,230)  $(134,454)
State benefit, net of federal benefit   (43,461)   (27,764)
Other permanent differences   179    266 
Valuation allowance   253,512    161,952 
Income tax expense (benefits)  $-   $- 

 

Income tax expense consists of the following for the years ending December 31, 2024, and 2023:

 

    31-Dec    31-Dec 
    2024    2023 
Current income tax (benefit)expense          
Federal  $-   $- 
State   -    - 
Current income tax (benefit) expense  $-   $-