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

Income Tax (Tables)

v3.21.2
Income Tax (Tables)
10 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of company’s net deferred tax asset
 

December 31,
2020

Deferred tax asset

 

 

 

 

Organizational costs/Startup expenses

 

$

94,822

 

Total deferred tax asset

 

 

94,822

 

Valuation allowance

 

 

(94,822

)

Deferred tax asset, net of allowance

 

$

 

Schedule of income tax provision
 

December 31,
2020

Federal

 

 

 

 

Current

 

$

11,509

 

Deferred

 

 

(94,822

)

   

 

 

 

State

 

 

 

 

Current

 

$

 

Deferred

 

 

 

Change in valuation allowance

 

 

94,822

 

Income tax provision

 

$

11,509

 

Schedule of reconciliation of federal income tax rate to the company’s effective tax rate
 

December 31,
2020

Statutory federal income tax rate

 

21.0

%

State taxes, net of federal tax benefit

 

0.0

%

Change in valuation allowance

 

(24.0

)%

Income tax provision

 

(3.0

)%