Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.1
Income Taxes (Tables)
6 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of income tax provision (benefit)
The income tax provision (benefit) consists of the following for the period from June 22, 2020 (inception) through December 31, 2020:
 
Current
        
Federal
   $ (19,444
State
      
Deferred
        
Federal
     (53,126
State
      
Change in valuation allowance
     72,570  
    
 
 
 
Income tax provision
   $  
    
 
 
 
Schedule of Company's net deferred tax assets
The Company’s net deferred tax assets are as follows as of December 31, 2020:
 
Deferred tax assets:
        
Start-up/Organization
costs
   $ 53,126  
Net operating loss carryforwards
     19,444  
    
 
 
 
Total deferred tax assets
     72,570  
Valuation allowance
     (72,570
    
 
 
 
Deferred tax asset, net of allowance
   $  
    
 
 
 
Schedule of reconciliation of the statutory federal income tax rate (benefit)
A reconciliation of the statutory federal income tax rate (benefit) to the Company’s effective tax rate (benefit) is as follows:
 
    
December 31,
2020
 
Statutory Federal income tax rate
     21.0
Change in Valuation Allowance
     (21.0 )% 
    
 
 
 
Income Taxes Benefit
     0.0