v3.25.2
Income Tax Disclosure
 12 Months Ended
Dec. 31, 2024
Notes  
Income Tax Disclosure

NOTE 6 - INCOME TAXES

 

For the year ended December 31, 2024, the Company has incurred net losses and therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is approximately $51,708 at December 31, 2024, and will expire beginning in the year 2037.

 

 

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% and 21% to the net loss before provision for income taxes as follows:

 

 

December 31, 2024

 

December 31, 2023

Income tax expense (benefit) at statutory rate

$

(3,048)

 

$

(1,588)

Change in valuation allowance

 

3,048

 

 

1,588

Income tax expense

$

-

 

$

-

 

Net deferred tax assets consist of the following components as of December 31, 2024, and 2023:

 

December 31, 2024

 

December 31, 2023

Gross deferred tax asset

$

10,859

 

$

7,811

Valuation allowance

 

(10,859)

 

 

(7,811)

Net deferred tax asset

$

-

 

$

-

 

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:

 

 

December 31, 2024

December 31, 2023

Statutory Federal Income Tax Rate

21%

21%

Nontaxable permanent differences

-

-

Change in valuation allowance

(21%)

(21%)

Income tax provision

-

-