Income Taxes

3 Months Ended

Mar. 31, 2025

Note 8- Income Taxes

The Company recognizes deferred income tax liabilities and assets for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. The Company has not incurred any income tax liabilities due to accumulated net losses.

The Company's net (loss) income before income taxes totaled ($11,502) and $1,693 for the quarter ended March 31, 2025, and 2024, respectively.

The components of the Company's deferred tax asset and the reconciliation of income taxes, computed at the combined statutory federal rate of 21% and the Montana state tax rate of 6.75% recorded for the three months ended March 31, 2025 and 2024 are as follows:


	March 31, 2025			March 31, 2024
Net operating loss carry forward	$	384,272		$	313,242
Effective tax rate		21	%		21	%
Effective state tax rate		6.75	%		6.75	%
Deferred tax asset		106,635			86,925
Less valuation allowance		(106,635	)		(86,925	)
Net deferred tax asset	$	—		$	—

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Certiplex Corp 10-Q