Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 9 — Income Taxes

The income tax provision (benefit) consists of the following for the three months ended June 30, 2022 and the period from January 7, 2021 (inception) through June 30, 2021:

	For the Three Months Ended June 30,  2022			For the Period from  January 7, 2022  (inception)  through  June 30, 2022
Current
Federal	$	—		$	—
State		—			—
Deferred
Federal		33,587			33,722
State		—			—
Valuation allowance		(33,587	)		(33,722	)
Income tax provision	$	—		$	—

The Company’s net deferred tax assets were as follows as of June 30, 2022:

Deferred tax assets:
Net operating loss carryover	$	33,722
Total deferred tax assets		33,722
Valuation allowance		(33,722	)
Deferred tax asset, net of allowance	$	—

As of June 30, 2022, the Company had $160,582 of U.S. federal and state net operating loss carryovers available to offset future taxable income which do not expire. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax assets, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance.