Registration of securities issued in business combination transactions

INCOME TAXES (Tables)

v3.21.2
INCOME TAXES (Tables)
3 Months Ended
Dec. 31, 2020
INCOME TAX  
Income tax provision

 

 

 

 

 

    

December 31, 

 

 

2020

Deferred tax assets

 

 

  

Net operating loss carryforward

 

$

34,990

Unrealized loss on marketable securities

 

 

6,924

Total deferred tax assets

 

 

41,914

Valuation Allowance

 

 

(41,914)

Deferred tax assets, net allowance

 

$

 —

 

Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate

 

 

 

 

 

    

December 31,

 

 

2020

Federal

 

  

 

Current

 

$

 —

Deferred

 

 

(41,914)

State and Local

 

 

  

Current

 

 

 —

Deferred

 

 

 —

Change in valuation allowance

 

 

41,914

Income tax provision

 

$

 —

 

Summary of significant components of the Company's deferred tax assets

 

 

 

 

 

    

December 31, 2020

 

Statutory federal income tax rate

 

21.0

%

State taxes, net of federal tax benefit

 

0.0

%

Change in fair value of Warrants (see Note 2)

 

(13.4)

%

Transaction costs attributable to Warrants

 

(5.9)

%

Meals and entertainment

 

(0.3)

%

Valuation allowance

 

(1.7)

%

Income tax provision

 

0.0

%