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

INCOME TAXES (Tables)

v3.21.2
INCOME TAXES (Tables)
3 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
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