INCOME TAXES	6 Months Ended
Feb. 28, 2013
INCOME TAXES
INCOME TAXES	10. INCOME TAXES As of February 28, 2013, the Company had net operating loss carry forwards of approximately $1,297,651 that may be available to reduce future years' taxable income through 2032. Future tax benefits which may arise as a result of these losses have not been recognized in these consoldiatd financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. Significant components of the Company's net deferred income taxes are as follows: March 22, 2012 (Inception) through February 28, 2013 ----------------- Deferred tax assets: Net operating loss carryforwards $ 454,178 --------- Deferred tax assets 454,178 Less valuation allowance (454,178) --------- Net deferred tax assets $ -- ========= A reconciliation of the U.S. statutory federal income tax rate to the effective income tax rate (benefit) follows: March 22, 2012 (Inception) through February 28, 2013 ----------------- U.S. Federal Statutory rate (35.00%) State income taxes, net of federal benefit (3.58%) Change in valuation allowance 38.58% ------ 0.00% ====== In assessing the ability to realize a portion of the deferred tax assets, management considers whether it is more than likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making the assessment. After consideration of the evidence, both positive and negative, management has determined that a $454,178 valuation allowance at February 28, 2013 is necessary to reduce the deferred tax assets to the amount that will more likely than not be realized. The change in the valuation allowance for the current year is $246,980. At February 28, 2013, the Company has available net operating loss carryforwards for federal and state income tax purposes of $1,297,651 expiring at various times through 2032.

INCOME TAXES

6 Months Ended

Feb. 28, 2013

10. INCOME TAXES

As of February 28, 2013,  the Company had net operating  loss carry  forwards of

approximately  $1,297,651  that may be available to reduce future years' taxable

income  through 2032.  Future tax benefits  which may arise as a result of these

losses have not been recognized in these consoldiatd  financial  statements,  as

their realization is determined not likely to occur and accordingly, the Company

has recorded a valuation  allowance for the deferred tax asset relating to these

tax loss carry-forwards.

Significant  components  of the  Company's  net  deferred  income  taxes  are as

follows:

                                                                March 22, 2012

                                                             (Inception) through

                                                              February 28, 2013

                                                              -----------------

Deferred tax assets:

  Net operating loss carryforwards                                $ 454,178

                                                                  ---------

Deferred tax assets                                                 454,178

Less valuation allowance                                           (454,178)

                                                                  ---------

Net deferred tax assets                                           $      --

                                                                  =========

A reconciliation of the U.S.  statutory federal income tax rate to the effective

income tax rate (benefit) follows:

                                                                March 22, 2012

                                                             (Inception) through

                                                              February 28, 2013

                                                              -----------------

U.S. Federal Statutory rate                                        (35.00%)

State income taxes, net of federal benefit                          (3.58%)

Change in valuation allowance                                       38.58%

                                                                   ------

                                                                     0.00%

                                                                   ======

In  assessing  the  ability  to realize a portion of the  deferred  tax  assets,

management  considers  whether it is more than likely than not that some portion

or all of the deferred tax assets will not be realized. The ultimate realization

of the deferred tax assets is dependent  upon the  generation of future  taxable

income  during  the  periods  in  which  those  temporary   differences   become

deductible.   Management  considers  the  scheduled  reversal  of  deferred  tax

liabilities and projected future taxable income in making the assessment.  After

consideration  of the  evidence,  both  positive and  negative,  management  has

determined that a $454,178 valuation allowance at February 28, 2013 is necessary

to reduce the  deferred  tax assets to the amount that will more likely than not

be  realized.  The change in the  valuation  allowance  for the current  year is

$246,980.  At February 28, 2013,  the Company has available  net operating  loss

carryforwards  for federal and state income tax purposes of $1,297,651  expiring

at various times through 2032.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

VUMEE INC. 10-Q/A