Income Taxes

9 Months Ended

Sep. 30, 2014

Income Taxes

Income Taxes

NOTE F – INCOME TAXES

For the period ended September 30, 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 $328,879 at September 30, 2014, and will expire beginning in the year 2025.

The provision for Federal income tax consists of the following for the nine months ended September 30, 2014 and 2013:

	2014			2013
Federal income tax benefit attributable to:
Current Operations	$	2,430		$	2,465
Less: valuation allowance		(2,430	)		(2,465	)
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 September 30, 2014 and December 31, 2013:

	September 30, 2014			December 31, 2013
NOL	$	111,819		$	109,389
Valuation allowance		(111,819	)		(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 $328,879 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.