Income Taxes

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 3 - Income Taxes

As of March 31, 2020 and 2019, the Company has net operating loss carryforwards (NOLs) of approximately $109,000 and $71,000 respectively, to reduce future federal and state taxable income through 2039 subject to the change in ownership provisions under IRC 382. These NOLs result in a deferred tax asset as of March 31, 2020 and 2019, of approximately $23,000 and $15,000, 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, 2020			Year ended March 31, 2019
Current expense:
Federal	$	-		$	-
Deferred tax benefit:
Federal		(7,900	)		(7,600	)
Valuation allowance		7.900			7,600
Total	$	-		$	-

The difference between the tax provision at the statutory federal income tax rate on March 31, 2020 and 2019, and the tax provision attributable to loss before income taxes is as follows:

	Year Ended March 31, 2020			Year ended March 31, 2019
Statutory federal income tax rates		21	%		21	%
Valuation allowance		-21	%		-21	%
Effective tax rate, net		-			-