INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE D. INCOME TAXES

Deferred income taxes reflect the tax effects of temporary timing differences between carrying amounts of assets and liabilities reflected on the financial statements and the amounts used for income tax purposes. The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets. The Company had $50,864 in NOL carry forward from 2014, 2017, and 2018.

	NOL Carryover
2014, expiring 2034	$	2,698
2017, expiring 2037		3,608
2018, no expiration		44,558
Total carryover to 2019	$	50,864

Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years.

The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate.

	2019			2018			2017
Federal income tax at statutory rate per books	$	(6,407	)	$	(9,357	)	$	(541	)
Change in valuation allowance		6,407			9,357			541
Net operating loss		—			—			—
Federal income tax per tax return	$	—		$	—		$	—
Effective income tax rate		0.0	%		0.0	%		0.0	%

The Company’s Forms 1120, U.S. Corporation Income Tax Returns, for the years ending December 31, 2019, 2018, and 2017 are subject to examination, by the IRS, generally for three years after they are filed.