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7. Income Taxes
12 Months Ended
Jul. 31, 2012
Income Tax Disclosure [Text Block]

7.        Income Taxes


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


 

July 31, 2012

July 31, 2011

 

 

 

Income tax benefit computed at the statutory rate

$ 7,226

$ 8,767

Change in valuation allowance

(7,226)

(8,767)

 

 

 

Provision for income taxes

$     –

$         –

 

 

 


Significant components of the Company’s deferred tax assets and liabilities as at July 31, 2012 and 2011, after applying enacted corporate income tax rates, are as follows:
   


 

July 31, 2012

July 31, 2011

Deferred tax assets

 

 

Net operating losses

$ 16,865

$ 9,639

Valuation allowance

(16,865)

(9,639)

 

 

 

Net deferred tax assets

$      –

$     –


As of July 31, 2012, the Company had net operating loss carry forwards of $112,434 which expire commencing in 2030.