Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.20.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets
    December 31,
2019
    December 31,
2018
 
Deferred tax asset            
Accrued expenses   $ 54,492     $  
Unrealized loss on securities           4,074  
Total deferred tax assets     54,492       4,074  
Deferred tax liability                
Unrealized gain on securities     (2,224 )      
Total deferred tax liabilities     (2,224 )      
Valuation allowance           (4,074 )
Deferred tax asset, net of allowance   $ 52,268     $  
Schedule of income tax provision
  December 31,     December 31,  
    2019     2018  
Federal            
Current   $ 319,339     $ 276,750  
Deferred     (39,233 )     (4,074 )
                 
State                
Current   $ 149,028     $  
Deferred     (8,961 )      
Change in valuation allowance     (4,074 )     4,074  
Income tax provision   $ 416,099     $ 276,750  
Schedule of reconciliation incme tax rate

    December 31,     December 31,  
    2019     2018  
             
Statutory federal income tax rate     21.0 %     21.0 %
State taxes, net of federal tax benefit     7.2 %     0.0 %
Deferred tax rate change     (0.3 )%     0.0 %
True-ups     (1.3 )%     0.0 %
Valuation allowance     (0.3 )%     0.3 %
                 
Income tax provision     26.3 %     21.3 %