Income Taxes

3 Months Ended

Mar. 31, 2014

Income Taxes

Income Taxes

NOTE F - INCOME TAXES

For the period ended March 31, 2014, 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 $ 326,479 at March 31, 2014, and will expire beginning in the year 2025.

The provision for Federal income tax consists of the following for the three month ended March 31, 2014 and 2013 is given below.

:

	March 31, 2014			March 31, 2013
Federal income tax benefit attributable to:
Current Operations	$	1,614		$	1,224
Less: valuation allowance		(1,614	)		(1,224	)
Net provision for Federal income taxes	$	0		$	0

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of March 31, 2014 and December 31, 2013

	March 31, 2014			December 31, 2013
NOL		111,003			109,389
Valuation allowance		(111,003	)		(109,389	)
Net Deferred Tax Asset		—			—

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $326,479 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.