- INCOME TAXES

12 Months Ended

Mar. 31, 2012

NOTE 7 - INCOME TAXES

Deferred tax assets of the Company are as follows:

	2012			2011
Non-capital losses carried forward	$	20,000		$	1,100
Less: valuation allowance		(20,000	)		(1,100	)
Deferred tax asset recognized	$	-		$	-

A valuation allowance has been recorded to reduce the net benefit recorded in the financial statements related to these deferred tax assets. The valuation allowance is deemed necessary as a result of the uncertainty associated with the ultimate realization of these deferred tax assets.

The provision for income tax differs from the amount computed by applying statutory federal income tax rate of 34% to the net loss for the year. The sources and effects of the tax differences are as follows:

	2012			2011
Computed expected tax benefit	$	18,900		$	1,100
Change in valuation allowance		(18,900	)		(1,000	)
Income tax provision	$	-		$	-

As of March 31, 2012, the Company had a net operating loss carryforward for income tax reporting purposes of approximately $58,900 which expire starting in 2029.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Westpoint Energy, Inc. 10-K