Income Taxes

12 Months Ended

Apr. 30, 2019

A reconciliation of the income tax provision computed at statutory rates to the reported tax provision is as follows:

	Year Ended April 30, 2019			Year Ended April 30, 2018
Basic statutory and state income tax rate		35	%		35	%
Income (loss) before income taxes	$	(44,924	)	$	24,500
Expected approximate tax recovery on net loss, before income tax Change in tax rate Changes in valuation allowance		(9,000) — 9,000			5,000 23,000 (28,000)
Deferred income tax recovery	$	—		$	—

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	Year Ended			Year Ended
	April 30, 2019			April 30, 2018
Deferred income tax assets
Non-capital losses carried forward	$	39,000		$	30,000
Less: valuation allowance		(39,000	)		(30,000	)

Deferred income tax assets	$	—		$	—

At April 30, 2019, the Company has incurred accumulated net operating losses in the United States of America totaling approximately $186,716 which are available to reduce taxable income in future taxation years. These losses may be carried forward indefinitely.

Nogales Resources Corp 10-K