v3.25.4
Note 1 - Organization and Summary of Significant Accounting Policies: Income Taxes (Policies)
6 Months Ended
Dec. 31, 2025
Policies  
Income Taxes

Income Taxes

 

The Company has adopted guidance issued by the FASB that clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold of more likely than not and a measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In making this assessment, a company must determine whether it is more likely than not that a tax position will be sustained upon examination, based solely on the technical merits of the position and must assume that the tax position will be examined by taxing authorities. The Company’s policy is to include interest and penalties related to unrecognized tax benefits in income tax expense. The Company had no accrual for interest or penalties as of December 31, 2025. The Company files income tax returns with the Internal Revenue Service (“IRS”) and the state of California.