INCOME TAX (Tables)

6 Months Ended

Dec. 31, 2020

INCOME TAX

Schedule of Company's net deferred tax assets

The Company’s net deferred tax assets are as follows:

	December 31,
	2020
Deferred tax assets
Net operating loss carryforward	$	20,436
Startup/ Organizational Expenses		29,766
Unrealized gain on marketable securities		(7,485)
Total deferred tax assets		42,717
Valuation Allowance		(42,717)
Deferred tax assets, net of allowance	$	—

Schedule of components of income tax provision (benefit)

The income tax provision consists of the following:

	December 31,
	2020
Federal
Current	$	—
Deferred		(42,717)
State and Local
Current		—
Deferred		—
Change in valuation allowance		42,717
Income tax provision	$	—

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

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:

	December 31,
	2020
Statutory federal income tax rate	21.0	%
State taxes, net of federal tax benefit	0.0	%
Valuation allowance	(21.0)	%
Income tax provision	0.0	%