Income Taxes

12 Months Ended

Apr. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 3 – INCOME TAXES

For income tax purposes, the Company has available net operating loss carryforwards (“NOL”) at April 30, 2022 of approximately $704,000 expiring in various years from 2026 through 2043 to reduce state taxable income, if any. The Federal NOL generated will not expire due to NOLs having an indefinite life as enacted in the 2017 Tax Cuts and Jobs Act.

The Company’s component of deferred tax assets as of April 30, 2022 and 2021 was as follows:

	April 30, 2022			April 30, 2021
Deferred tax assets
Net operating loss carryforwards	$	218,000		$	196,000
Total deferred tax assets, gross		218,000			196,000
Valuation allowance		(218,000	)		(196,000	)
Total deferred tax assets, net	$	-		$	-
Deferred tax liabilities	$	-		$	-
Net deferred tax assets	$	-		$	-

The Company has taken a 100% valuation allowance against the deferred tax assets attributable to the NOL carry-forwards and other temporary differences due to the uncertainty of realizing the future tax benefits.

The difference in the Federal Statutory Rate of 21% and the state rate of approximately 10% and the Company’s effective tax rate of 0% is due to a valuation allowance against the deferred tax assets attributable to the net operating loss carryforwards for federal and state taxes.