Income Taxes

9 Months Ended

Dec. 31, 2013

Note 4 - Income Taxes

As of December 31, 2013, the Company has net operating loss carryforwards of approximately $58,000 to reduce future federal and state taxable income through 2033.

The Company currently has no federal or state tax examinations in progress nor has it had any federal or state examinations since its inception. All of the Company’s tax years are subject to federal and state tax examination.

The benefit from income taxes consists of the following:

	For The Nine Months Ended December 31, 2013			From August 29, 2012 (Inception) to December 31, 2012			Cumulative From August 29, 2012 (Inception) to December 31, 2013
Current Expense:
Federal and State	$	-		$	-		$	-
Deferred tax benefit:
Federal and State		9,000			100			20,000
Valuation allowance		(9,000	)		(100	)		(20,000	)
Total	$	-		$	-		$	-

The income tax benefit differs from the amount computed by applying the federal statutory income tax rate to the loss before income taxes due to the following:

	For The Nine Months Ended December 31, 2013			August 29, 2012 (Inception) to December 31, 2012			Cumulative August 29, 2012 (Inception) to December 31, 2013
Statutory federal income tax rate		(34	)%		(34	)%		(34	)%
Valuation allowance		34	%		34	%		34	%
Effective income tax rate		0	%		0	%		0	%

- 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+ Details

Fern Holdings Corp. 10-Q