INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of federal and state income

The provision for federal and state income taxes for the years ended is as follows:

	2020		2019
Current provision:
Federal	$	53,265	$	113,786
State		993		5,671
Deferred provision (benefit):
Federal	$	12,110	$	(12,110	)
State		486		(486	)
Total Deferred		12,596		(12,596	)
Total provision for income taxes	$	66,854	$	106,861

The provision for federal and state income taxes for the years ended is as follows:

	2019			2018
Current provision:
Federal	$	113,786		$	—
State		5,671			—
Deferred provision (benefit):
Federal	$	(12,110	)	$	—
State		(486	)		—
Total Deferred		(12,596	)		—
Total provision for income taxes	$	106,861		$	—

Schedule of deferred tax assets and deferred tax liabilities

The income tax effect of temporary differences comprising the deferred tax assets and deferred tax liabilities is a result of the following at December 31:

	2020			2019
Deferred tax assets:
Net operating loss	$	299,088		$	—
Amortization and start up costs		—			12,596
Stock based compensation		189,883			—
Accrual to cash conversion		367,289			—
Total		856,260			12,596
Valuation allowance		(856,260	)		—
Net	$	—		$	12,596

Schedule of income before provision for income taxes

Effective tax rates differ from the federal statutory rate of 21% applied to income before provision for income taxes due to the following:

	2020			2019
Federal statutory rate times financial statement income	$	(677,930	)	$	610,746
Less: Tax Rate applied to pre share exchange earnings		—			(501,233	)
Permanent tax basis differences		613			(7,838	)
Deferred true up		38,048			—
State taxable income, net		(205,098	)		5,186
Change in Valuation allowance		856,520			—
True up		54,258			—
Other		443			—
Total provision for income taxes	$	66,854		$	106,861

Effective tax rates differ from the federal statutory rate of 21% applied to income before provision for income taxes due to the following:

	2019			2018
Federal statutory rate times financial statement income	$	610,746		$	151,251
Less: Tax Rate applied to pre share exchange earnings		(501,233	)		(151,251	)
Permanent tax basis differences		(7,838	)		—
State taxable income		5,186			—
Total provision for income taxes	$	106,861		$	—