INCOME TAXES

12 Months Ended

Dec. 31, 2018

For the year ended December 31, 2018, the Company has incurred net losses and, therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is $186,328 at December 31, 2018 and will expire beginning in the year 2032.

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% to the net loss before provision for income taxes for the years ended December 31, 2018 and 2017 are as follows:

	For the Year Ended
	December 31,
	2018			2017
Income tax expense (benefit) at statutory rate	$	(10,998	)	$	(13,288	)
Change in valuation allowance		10,998			13,288
Income tax expense	$	-		$	-

Net deferred tax assets consist of the following components as of December 31, 2018 and 2017:

	December 31,			December 31,
	2018			2017
NOL Carryover	$	39,129		$	28,131
Valuation allowance		(39,129	)		(28,131	)
Net deferred tax asset	$	-		$	-

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $133,956 for federal income tax reporting purposes could be subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.

The Company has no uncertain tax positions that require the Company to record a liability.

The Company had no accrued penalties and interest related to taxes as of December 31, 2018

BIOSCIENCE NEUTRACEUTICALS, INC. 10-K