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Income Taxes
9 Months Ended
Nov. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

Note 5. Income Taxes

 

The Company has determined an estimated annual effective tax rate.  The rate will be revised, if necessary, as of the end of each successive interim period during our fiscal year to our best current estimate.

 

There are open statutes of limitations for taxing authorities in federal and state jurisdictions to audit our tax returns from 2014 through the current period.  Our policy is to account for income tax related interest and penalties in income tax expense in the statements of operations.  There have been no income tax related interest or penalties assessed or recorded.

 

ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.  This pronouncement also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.  There have been no uncertain tax positions taken.