INCOME TAXES

12 Months Ended

Mar. 31, 2023

INCOME TAXES

NOTE 3 - INCOME TAXES

NOTE 3 - INCOME TAXES:

The Company’s deferred tax asset relates to net operating losses that may be carried forward to future years. At March 31, 2023 and 2022, the Company has available carryforward net operating losses of approximately $965,000 and $839,000 for federal, $989,000 and $807,000 for state income taxes, respectively. No tax benefit has been reported in the financial statements, because the Company believes there is a 50% or greater chance the carry-forwards will not be utilized. Accordingly, the potential tax benefits of the loss carry-forward are offset by a valuation allowance of the same amount. The Company’s increase in valuation allowance of $26,460 and $45,345 during the year ended March 31, 2023 and 2022 was recorded to offset the deferred tax benefit of the Company’s tax loss for the year, respectively.

The Company’s deferred tax asset and valuation allowance as of March 31, 2023 and 2022 were as follows:

	March 31
	2023			2022
Net Operating Losses	$	257,577		$	231,117
Valuation Allowance		(257,577	)		(231,117	)

The Company’s provision for federal and state income taxes for the years ended March 31, 2023 and 2022 consisted of the following:

	March 31
	2023			2022
Current Tax Expense (Benefit)	$	-		$	-
Deferred Tax Expense (Benefit)		(26,460	)		(45,345	)
Increase (Decrease) in Valuation Allowance		26,460			45,345
Net tax provision	$	-		$	-

The Company’s effective tax rate differed from the federal statutory income tax rate for the years ended March 31, 2023, and 2022 as follows:

	March 31
	2023			2022
Federal statutory rate		21.0	%		21.0	%
State tax, net of federal tax effect		3.87	%		3.87	%
Valuation allowance		(24.87	%)		(24.87	%)
Effective tax rate		0.0	%		0.0	%

As of March 31, 2023 and 2022, the Company does not believe that it has taken any tax positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next twelve months. The Company’s income tax returns are subject to examination by the appropriate taxing jurisdictions. As of March 31, 2023, the Company’s income tax returns generally remain open for examination for three years from the date filed with each taxing jurisdiction.