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NOTE 6 – INCOME TAXES
 12 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
NOTE 6 – INCOME TAXES

NOTE 6 – INCOME TAXES

 

As of September 30, 2022, the Company had net operating loss carry forwards of approximately $114,183 that may be available to reduce future years' taxable income in varying amounts through 2042.

 

As of September 30, 2021, the Company had net operating loss carry forwards of approximately $80,293 that may be available to reduce future years' taxable income in varying amounts through 2041.

 

Future tax benefits which arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

The 21% tax rate provision for Federal income tax consists of the following:

 

 

   September 30,
      2022		  September 30,
       2021
Federal income tax benefit attributable to:          
Current operations  $23,873   $16,862 
Less: change in valuation allowance   (23,873)   (16,862)
Net provision for Federal income taxes  $—     $—   
           

 

 

The cumulative tax effect at the expected rate of 35% of significant items comprising our net deferred tax amount is as follows:

  

September 30,

2022

 

September 30,

2021

Deferred tax asset attributable to:          
Net operating loss carry over  $39,789   $28,103 
Less: valuation allowance   (39,789)   (28,103)
Net deferred tax asset  $—     $—   

  

 

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $80,293 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years. The Company’s returns are open to examination by the Internal Revenue Services for all tax years since inception.