Annual report pursuant to Section 13 and 15(d)

INCOME TAX (Tables)

v3.21.1
INCOME TAX (Tables)
12 Months Ended
Dec. 31, 2020
INCOME TAX  
Schedule of Company's net deferred tax assets (liability)

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

2020

 

2019

Deferred tax assets (liability)

 

 

  

 

 

  

Net operating loss carryforward

 

$

306,991

 

$

210

Total deferred tax assets

 

 

306,991

 

 

210

Valuation Allowance

 

 

(306,991)

 

 

(210)

Deferred tax assets (liability)

 

$

 —

 

$

 —

 

Schedule of components of Company's income tax provision

 

 

 

 

 

 

 

 

    

December 31, 2020

    

December 31, 2019

Federal

 

 

 

 

 

 

Current

 

$

 —

 

$

 —

Deferred

 

 

(306,781)

 

 

(210)

State and Local

 

 

 

 

 

 

Current

 

 

 —

 

 

 —

Deferred

 

 

 —

 

 

 —

Change in valuation allowance

 

 

306,781

 

 

210

Income tax provision

 

$

 —

 

$

 —

 

Schedule of reconciliation of the federal income tax rate to the Company's effective tax rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

December 31, 2019

 

 

 

 

 

 

 

Statutory federal income tax rate

 

21.0

%

21.0

%

State taxes, net of federal tax benefit

 

 

 

Valuation allowance

 

(21.0)

 

(21.0)

 

Income tax provision

 

0.0

%

0.0

%