Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 5 – INCOME TAXES

For the year ended December 31, 2019, the Company has incurred net losses and therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is approximately $42,135 at December 31, 2019 and will expire beginning in the year 2037.

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% and 21% to the net loss before provision for income taxes as follows:

	For the year ended December 31, 2019			For the year ended December 31, 2018
Income tax expense (benefit) at statutory rate		(5,747	)		(1,899	)
Change in valuation allowance		5,747			1,899
Income tax expense		—			—

 
Net deferred tax assets consist of the following components as of December 31, 2019 and 2018:

	December 31, 2019			December 31, 2018
Gross deferred tax asset		8,948			3,102
Valuation allowance		(8,948	)		(3,102	)
Net deferred tax asset		—			—

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:

	For the year ended December 31, 2019
Statutory Federal Income Tax Rate		21	%
Nontaxable permanent differences		—
Change in valuation allowance		(21	%)
Income tax provision		—

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $42,135 for federal income tax reporting purposes could be subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.

The Company has no uncertain tax positions that require the Company to record a liability.

The Company had no accrued penalties and interest related to taxes as of December 31, 2019.