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INCOME TAX (Tables)
12 Months Ended
Jun. 30, 2021
INCOME TAX  
Schedule of income tax provision

 

 

 

 

 

 

 

 

    

June 30, 

 

   

2021

   

2020

Federal

 

 

 

 

 

 

Current

 

$

 

$

Deferred

 

 

(117,904)

 

 

(210)

 

 

 

 

 

 

 

State

 

 

 

 

 

 

Current

 

$

 

$

Deferred

 

 

 

 

Change in valuation allowance

 

 

117,904

 

 

210

Income tax provision

 

$

 

$

 

Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate

 

 

 

 

 

 

 

 

June 30, 

 

 

   

2021

   

2020

 

 

    

  

 

  

 

Statutory federal income tax rate

 

21.0

%

21.0

%

State taxes, net of federal tax benefit

 

0.0

%

0.0

%

Change in valuation allowance

 

(21.0)

%

(21.0)

%

Income tax provision

 

0.0

%

0.0

%

 

Summary of significant components of the Company's deferred tax assets

 

 

 

 

 

 

 

 

    

June 30, 

 

    

2021

    

2020

 

 

 

 

 

 

 

Deferred tax asset

 

 

 

 

 

  

Net operating loss carryforward

 

$

6,802

 

$

210

Startup/Organization Expenses

 

 

111,312

 

 

Total deferred tax asset

 

 

118,114

 

 

210

Valuation allowance

 

 

(118,114)

 

 

(210)

Deferred tax asset, net of allowance

 

$

 

$