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INCOME TAX (Tables)
9 Months Ended
Dec. 31, 2017
INCOME TAX  
Summary of net deferred tax assets

 

 

December 31, 
2017

 

Deferred tax asset

 

 

 

Unrealized loss on marketable securities

 

$

4,671

 

Net operating loss carryforward - State

 

39,888

 

 

 

 

 

Total deferred tax assets

 

44,559

 

Valuation allowance

 

(39,888

)

 

 

 

 

Deferred tax asset, net of allowance

 

$

4,671

 

 

 

 

 

 

 

Schedule of income tax provision

 

 

For the Period 
from March 21, 
2017 (inception) 
through 
December 31, 
2017

 

Federal

 

 

 

Current

 

$

601,324

 

Deferred

 

(4,671

)

 

 

 

 

State

 

 

 

Current

 

30,030

 

Deferred

 

(39,888

)

Change in valuation allowance

 

39,888

 

 

 

 

 

Income tax provision

 

$

626,683

 

 

 

 

 

 

 

Summary of reconciliation of the federal income tax rate to the Company's effective tax rate

 

 

For the Period
from March 21,
2017 (inception)
through
December 31,
2017

 

Statutory federal income tax rate

 

34.0

%

State taxes, net of federal tax benefit

 

(1.1

)%

Deferred tax liability rate change

 

0.2

%

Change in valuation allowance

 

2.2

%

 

 

 

 

Income tax provision expense

 

35.3

%