NOTE 4 – INCOME TAXES

Deferred income taxes are reported using the liability method. Deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

As of June 30, 2015, the Corporation has available operating loss carryforwards of approximately $113,000 for Federal Income Tax purposes which expire in various years through 2034. Because the future utilizations of these tax carryforward losses is uncertain, no related deferred tax asset account has been reflected in the accompanying financial statements.

A summary of the Company’s deferred tax assets as of June 30, 2015 and 2014 are as follows:

	2015			2014
Federal net operating loss (@34%)	$	39,000		$	32,000
Less: valuation allowance		(39,000	)		(32,000	)
Net deferred tax asset	$	-		$	-