Annual report pursuant to Section 13 and 15(d)

INCOME TAXES

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INCOME TAXES
12 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
NOTE 5 – INCOME TAXES

A reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows:

 

    March 31,
2015
    March 31,
2014
 
             
Net loss before income taxes   $ (16,669 )   $ (1,822 )
Income tax rate     34 %     34 %
Income tax recovery     (5,667 )     (619 )
Non-deductible     -       -  
Valuation allowance change     5,667       619  
                 
Provision for income taxes   $ –     $ –  

 

The significant components of deferred income tax assets at March 31, 2015 and 2014 are as follows:

 

    March 31,
2015
    March 31,
2014
 
Net operating loss carry-forward   $ 6,287     $ 619  
Valuation allowance     (6,287 )     (619 )
                 
Net deferred income tax asset   $ –     $ –  

  

The amount taken into income as deferred income tax assets must reflect that portion of the income tax loss carry forwards that is more likely-than-not to be realized from future operations. The Company has chosen to provide a full valuation allowance against all available income tax loss carry forwards. The Company has recognized a valuation allowance for the deferred income tax asset since the Company cannot be assured that it is more likely than not that such benefit will be utilized in future years. The valuation allowance is reviewed annually. When circumstances change and which cause a change in management's judgment about the realizability of deferred income tax assets, the impact of the change on the valuation allowance is generally reflected in current income.

 

As of March 31, 2015 and 2014, the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the year ended March 31, 2015 and 2014 no interest or penalties have been accrued as of March 31, 2015 and 2014. As of March 31, 2015 and 2014, the Company did not have any amounts recorded pertaining to uncertain tax positions.

 

The tax years from 2014 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities.