Income Taxes

3 Months Ended

Mar. 31, 2012

Income Taxes

Income Tax Disclosure [Text Block]

NOTE 4 – INCOME TAXES

As of March 31, 2012 and June 30, 2011, the Company had net operating loss carryforwards of approximately $31,000 and $24,000, which expire in varying amounts between 2017 and 2027.   Realization of this potential future tax benefit is dependent on generating   sufficient taxable income prior to expiration of the loss carryforward.  The deferred tax asset related to this (and other) potential future tax benefits has been offset by a valuation allowance in the same amount. The amount of the deferred tax asset ultimately realizable could be increased in the near term if estimates of future taxable income during the carryforward period are revised.

Deferred income tax assets of $10,897 and $8,400 at March 31, 2012 and June 30, 2011, respectively were offset in full by a valuation allowance.

The components of the Company's net deferred tax assets, including a valuation allowance, are as follows:

                                                                                               As of                              As of

                                                                                      March 31, 2012             June 30, 2011

               Net deferred tax assets before

                 valuation allowance                                $            10,897                 $              8,400

               Less: Valuation Allowance                                 (10,897)                                 8,400

               Net deferred tax assets                                                     --                                        --

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

  FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 4 – INCOME TAXES - CONTINUED

A reconciliation between the amounts of income tax benefit determined by applying the applicable U.S. and State statutory income tax rate to pre-tax loss is as follows:

                                                                                               As of                              As of

                                                                                      March 31, 2012             June 30, 2011

               Tax expense at the U.S.

                 statutory income tax                               $             (35%)                         (35%)

               Statutory state income tax                                               --                                 --

               Increase in valuation allowance                                35%                            35%

               Effective tax rate                                                              --                                 --

Due to the inherent uncertainty in forecasts and future events and operating results, the Company has provided for a valuation allowance in an amount equal to gross deferred tax assets resulting in the above figures for the periods audited.