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v2.4.0.6
INCOME TAXES
12 Months Ended
Aug. 31, 2012
Income Tax Disclosure [Abstract]  
INCOME TAXES

 

As of August 31, 2012, the Company had net operating loss carry forwards of approximately $69,077 that may be available to reduce future years’ taxable income through 2032. 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 for the periods ended August 31, 2012 and 2011:

 

    2012   2011
Federal income tax benefit attributable to:                
Current Operations   $ 17,839     $ 5,647  
Less: valuation allowance     (17,839 )     (5,647 )
Net provision for Federal income taxes   $ 0     $ 0  

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of August 31, 2012 and 2011:

 

    2012   2011
Deferred tax asset attributable to:                
Net operating loss carryover   $ 23,486     $ 5,647  
Less: valuation allowance     (23,486 )     (5,647 )
Net deferred tax asset   $ 0     $ 0  

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $69,077 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.