Income Taxes

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 3. Income Taxes

As of March 31, 2019 and 2018, the Company has net operating loss carryforwards of approximately $71,000 and $35,000, respectively, to reduce future federal and state taxable income through 2039 subject to the change in ownership provisions under IRC 382. This results in a deferred tax asset as of March 31, 2019 and 2018, of approximately $15,000 and $7,400, respectively, against which a full valuation allowance has been recorded because the Company’s management believes future realization of the related income tax benefit is uncertain.

The Company currently has no federal or state tax examinations in progress nor has it had any federal or state examinations since its inception. All of the Company’s tax years are subject to federal and state tax examination.

On December 22, 2017, the enactment date, the Tax Cuts and Jobs Act (“Act”) was signed into law. The Act effectively reduces the top corporate tax rate from 35 percent to a flat 21 percent beginning January 1, 2018 and eliminates the corporate Alternative Minimum Tax. The Company has adjusted its deferred tax calculations to reflect this reduction in its tax rate.

The benefit from income taxes consists of the following:

	Year Ended March 31, 2019			For the period from March 20, 2018 (Inception) to March 31, 2018
Current expense:
Federal	$	-		$	-
Deferred tax benefit:
Federal		(7,600	)		(7,400	)
Valuation allowance		7,600			7,400
Total	$	-		$	-

The difference between the tax provision at the statutory federal income tax rate on March 31, 2019 and 2018 and the tax provision attributable to loss before income taxes is as follows:

	Year Ended March 31, 2019			For the period from March 20, 2018 (Inception) to March 31, 2018
Statutory federal income tax rates		21	%		21	%
Valuation allowance		-21	%		-21	%
Effective tax rate, net		-			-