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Note 5 - Income Taxes
12 Months Ended
Aug. 31, 2012
Notes  
Note 5 - Income Taxes

NOTE 5 – INCOME TAXES

 

As of August 31, 2012, the Company had net operating loss carry forwards of approximately $43,142 that may be available to reduce future years’ taxable income in varying amounts through 2031. Future tax benefits which may 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 provision for Federal income tax consists of the following:

 

 

August 31, 2012

August 31, 2011

Federal income tax benefit attributable to:

 

 

Current operations

  $      14,668 

  $           175 

Less: valuation allowance

         (14,668)

              (175)

Net provision for Federal income taxes

  $                - 

  $                - 

 

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

 

August 31, 2012

August 31, 2011

Deferred tax asset attributable to:

 

 

Net operating loss carryforward

  $      14,668 

  $           175 

Less: valuation allowance

         (14,668)

              (175)

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 $43,142 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.