Income Tax Disclosure

12 Months Ended

Nov. 30, 2024

NOTE 6 - INCOME TAXES

For the year ended November 30, 2024, 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 approximately $179,653 at November 30, 2024, and will expire beginning in the year 2037.

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% and 21% to the net loss before provision for income taxes as follows:

		For the year ended November 30,
		2024		2023
Income tax expense (benefit) at statutory rate	$	(5,788)	$	(9,196)
Change in valuation allowance		5,788		9,196
Income tax expense	$	-	$	-

Net deferred tax assets consist of the following components as of November 30, 2024 and 2023:

		November 30, 2024		November 30, 2023
Gross deferred tax asset	$	37,727	$	31,939
Valuation allowance		(37,727)		(31,939)
Net deferred tax asset	$	-	$	-

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $179,653 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 November 30, 2024.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

BestGofer Inc. 10-K/A