NOTE 5 – INCOME TAXES

The significant components of deferred income tax assets at June 30, 2020, and 2019 are as follows:

	June 30, 2020			June 30, 2019

Net operating loss carry-forward	$	(19,261	)		(19,142	)
Less: valuation allowance		19,261			19,142

Net deferred income tax asset	$	-			-

The amount taken into income as deferred income tax assets must reflect that portion of the income tax loss carry forwards that is more likely-than-not to be realized from future operations. The Company has chosen to provide a full valuation allowance against all available income tax loss carry forwards. The Company has recognized a valuation allowance for the deferred income tax asset since the Company cannot be assured that it is more likely than not that such benefit will be utilized in future years. The valuation allowance is reviewed annually. When circumstances change, and which cause a change in management’s judgment about the realizability of deferred income tax assets, the impact of the change on the valuation allowance is generally reflected in current income.

On December 22, 2017, new federal tax reform legislation was enacted in the United States (the “2017 Tax Act”), resulting in significant changes from previous tax law. The 2017 Tax Act reduces the federal corporate income tax rate to 21% from 35% effective July 1, 2018 for the Company. The rate change, along with certain immaterial changes in tax basis resulting from the 2017 Tax Act, resulted in a reduction of the Company’s deferred tax assets of $6,834 and a corresponding reduction in the valuation allowance.

As of June 30, 2020, and 2019, the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the year ended June 30, 2020 and June 30, 2019 and no interest or penalties have been accrued as of June 30, 2020 and 2019. As of June 30, 2020, and 2019, the Company did not have any amounts recorded pertaining to uncertain tax positions.

A reconciliation of the provision for income taxes at the United States federal statutory rate for the years ended June 30, 2020 and 2019 is as follows:

	June 30, 2020			June 30, 2019

Net Operating Loss	$	(495	)		(66,027	)
Income tax rate		21	%		21	%
Income tax benefit at statutory rate		(119	)		(13,866	)
Change in valuation allowance		119			13,866

Provision for income taxes	$	-			-