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Income Tax (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Net Deferred Tax Liability

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

		Year Ended December 31, 2020				For the Period from May 28, 2019 (inception) through December 31, 2019
Deferred tax liability
Unrealized gain on marketable securities		$	(9,680	)		$	(3,611	)
Total deferred tax liability			(9,680	)			(3,611	)
Valuation Allowance			—				—
Deferred tax liability, net of allowance		$	(9,680	)		$	(3,611	)

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

		Year Ended December 31, 2020				For the Period from May 28, 2019 (inception) through December 31, 2019
Federal
Current		$	159,877			$	170,684
Deferred
State and Local			6,069				3,611
Current			—				—
Deferred			—				—
Change in valuation allowance			—				—
Income tax provision		$	165,946			$	174,295

Schedule of Federal Income Tax Rate

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

		As of December 31,
		2020				2019
Statutory federal income tax rate			21.0	%			21.0	%
Change in fair value of warrant liabilities			(21.1	%)			(27.4	%)
Business Combination expenses			(0.2	%)			0.0	%
Income tax provision			(0.3	%)			(6.4	%)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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