INCOME TAXES DISCLOSURE

12 Months Ended

Sep. 30, 2018

Notes

INCOME TAXES DISCLOSURE

NOTE 6 - INCOME TAXES

The Company provides for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Act”) resulting in significant modifications to existing law. The Company has considered the accounting impact of the effects of the Act during the year ended September 30, 2018 including a reduction in the corporate tax rate from 34% to 21% among other changes.

The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the new statutory rate of 21% to the income tax amount recorded as of September 30, 2018 and September 30, 2017 are as follows:

	September 30, 2018		September 30, 2017
Net operating carryforward	$	(110,833)	$	(79,590)
Effective tax rate		21%		21%
Tax benefit of net operating loss carryforward		23,275		16,714
Valuation allowance		(23,275)		(16,714)
Deferred income tax assets	$	-	$	-

As of September 30, 2018, the Company had $110,833 in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire between 2033 and 2038. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes.