NOTE 9 - INCOME TAXES

Jun. 30, 2023

June 30, 2023

NOTE 9 - INCOME TAXES

NOTE 9 – INCOME TAXES

The effective income tax rate for the years ended June 30, 2023 and 2022 differs from the U.S. Federal statutory rate due to the following:

	June 2023	June 2022
Federal statutory income tax rate	$     508,880	$      (179,826)
Change in valuation allowance	(508,880)	179,826
	$                 -	$                -

The components of the deferred tax assets and liabilities at June 30, 2023 and 2022 are as follows:

	June 2023	June 2022
Long-term deferred tax assets:
Federal net operating loss carryforwards	$    508,880	$   179,826
Valuation allowance	(508,880)	(179,826)
Net long-term deferred tax assets	$                -	$               -

December 31, 2022

NOTE 9 - INCOME TAXES

NOTE 9 – INCOME TAXES

The effective income tax rate for the years ended December 31, 2022 and 2021 differs from the U.S. Federal statutory rate due to the following:

	2022	2021
Federal statutory income tax rate	$275,274	$416,225
Change in valuation allowance	(275,274)	(416,225)
	$-	$-

The components of the deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows:

	2022	2021
Long-term deferred tax assets:
Federal net operating loss carryforwards	$275,274	$416,225
Long-term deferred tax liabilities:
Valuation allowance	(275,274)	(416,225)
Net long-term deferred tax assets	$-	$-