Annual report pursuant to Section 13 and 15(d)

INCOME TAX (Tables)

v3.22.1
INCOME TAX (Tables)
11 Months Ended
Dec. 31, 2021
INCOME TAX  
Summary of net deferred tax assets

The Company’s net deferred tax assets at December 31, 2021 is as follows:

Deferred tax assets

 

  

Net operating loss carryforward

$

35,810

Organizational/startup costs

 

141,779

Total deferred tax assets

177,589

Valuation Allowance

 

(177,589)

Deferred tax assets

$

Summary of income tax provision

The income tax provision for the period from February 12, 2021 (inception) through December 31, 2021 consists of the following:

Federal

Current

$

Deferred

(177,589)

State and Local

Current

Deferred

Change in valuation allowance

177,589

Income tax provision

$

Summary of reconciliation of federal income tax rate to the Company's effective tax rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2021 is as follows:

Statutory federal income tax rate

21.0

%

Transaction costs allocated to warrants

1.9

%

Change in fair value of warrants

(27.6)

%

Valuation allowance

4.8

%

Income tax provision

%