INCOME TAXES |
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May 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME TAXES | NOTE 6 – INCOME TAXES
The components of the Company’s provision for federal income tax for the six months ended May 31, 2022 and the year ended November 30, 2021 consists of the following:
13
ANKAM NOTES TO THE FINANCIAL STATEMENTS As of May 31, 2022 (Unaudited)
The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows:
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $43,060 as of May 31, 2022, 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.
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