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INCOME TAXES
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12 Months Ended | ||||||||||
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Dec. 31, 2011
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| INCOME TAXES | |||||||||||
| INCOME TAXES |
NOTE 5 INCOME TAXES
No provision was made for income tax for the year ending December 31, 2010. The Company from the date of inception to the period December 31, 2010, has incurred net operating losses for tax purposes of approximately $270,053. The net operating loss carry-forward may be used to reduce taxable income through the year 2026. The availability of the Company's net operating loss carry-forwards is subject to limitation if there is a 50% or more change in the ownership of the Company's stock.
There was no significant difference between reportable income tax and statutory income tax. The gross deferred tax asset balance as of December 31, 2011 was approximately $38,964. A 100% valuation allowance has been established against the deferred tax asset, as the utilization of the loss carry-forwards cannot reasonably be assured. As reconciliation between the income taxes computed in the United States is as follows:
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