v3.26.1
INCOME TAXES
 12 Months Ended
Apr. 30, 2026
INCOME TAXES  
INCOME TAXES
NOTE 5 – INCOME TAXES

 

A reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported for the years ended April 30, 2026 and 2025 is as follows:

 

 

 

April 30,

2026

 

 

April 30,

2025

 

Net loss before income taxes per financial statements

 

$(25,109)

 

$(20,566)

Income tax rate

 

 

21%

 

 

21%

Income tax recovery

 

 

(5,273)

 

 

(4,319)

Non-deductible

 

 

-

 

 

 

-

 

Valuation allowance change

 

 

5,273

 

 

 

4,319

 

Provisions for income taxes

 

$-

 

 

$-

 

 

The significant component of deferred income tax assets at April 30, 2026 and April 30, 2025, is as follows:

 

 

 

April 30,

2026

 

 

April 30,

2025

 

Net operating loss carry-forward

 

$5,273

 

 

$4,319

 

Less: valuation allowance

 

 

(5,273)

 

 

(4,319)

Net deferred income tax asset

 

$-

 

 

$-

 

 

The amount taken into income as deferred income tax assets must reflect that portion of the income tax loss carry forwards that is more likely-than-not to be realized from future operations. The Company has chosen to provide a full valuation allowance against all available income tax loss carry forwards. The Company has recognized a valuation allowance for the deferred income tax asset since the Company cannot be assured that it is more likely than not that such benefit will be utilized in future years. The valuation allowance is reviewed annually. When circumstances change and which cause a change in management's judgment about the realizability of deferred income tax assets, the impact of the change on the valuation allowance is generally reflected in current income.

 

As of April 30, 2026 the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the year ended April 30, 2026 and no interest or penalties have been accrued as of April 30, 2025. As of April 30, 2026, the Company did not have any amounts recorded pertaining to uncertain tax positions.

 

The tax years from 2022 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities.