General form of registration statement for all companies including face-amount certificate companies

INCOME TAXES (Tables)

v3.22.2.2
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES AND EFFECTIVE TAX RATE

A reconciliation of the statutory income tax rates and the effective tax rate is as follows:

 

 SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES AND EFFECTIVE TAX RATE

    December 31,  
    2021     2020  
             
Statutory U.S. federal rate     21.0 %     21.0 %
State income tax, net of federal benefit     7.0 %     7.0 %
Permanent differences     0.0 %     0.0 %
Valuation allowance     (28.0 )%     (28.0 )%
                 
Provision for income taxes     0.0 %     0.0 %
SCHEDULE OF DEFERRED TAX ASSETS

The tax effects of the temporary differences and carry forwards that give rise to deferred tax assets consist of the following:

 

             
    December 31,  
    2021     2020  
             
Deferred tax assets:                
Net operating loss carry forwards   $ 1,073,527     $ 352,912  
Valuation allowance     (1,073,527 )     (352,912 )
                 
Total   $ -     $ -