Annual report [Section 13 and 15(d), not S-K Item 405]

DEFERRED INCOME TAXES (Tables)

v3.25.1
DEFERRED INCOME TAXES (Tables)
12 Months Ended
Sep. 30, 2024
Deferred Income Taxes  
Schedule of deferred income tax assets
               
    September 30, 2024     September 30, 2023  
Depreciation   $ 2,407     $ 1,750  
Allowance for credit losses     45,786       40,717  
Net operating loss carryforward     3,505,693       3,449,013  
Net deferred income tax asset     3,553,886       3,491,480  
Less: valuation allowance     (3,553,886 )     (3,491,480 )
Total deferred income tax assets   $ -     $ -  
Schedule of income tax rate as a percentage
               
    September 30, 2024     September 30, 2023  
             
Federal statutory taxes   $ (54,003   $ 11,224  
State income taxes, net of federal benefit     (14,967     3,111  
Change in tax estimates     7,476       26,586  
Less: Valuation allowance, non-deductible items     4,814       3,267  
Change in valuation allowance     (56,680 )     (44,188 )
    $ -0-     $ -0-  

 

    September 30, 2024     September 30, 2023  
             
Federal statutory Income tax rate     21.00 %     21.00 %
State taxes, net of federal benefit     4.35 %     4.35 %
Effective rate of deferred tax asset     25.35 %     25.35 %
Less: Valuation allowance     (25.35 %)     (25.35 %)
Effective income tax rate     0.00 %     0.00 %