Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.22.0.1
Income Tax (Tables)
 5 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Summary of net deferred tax assets
The Company’s net deferred tax assets are as follows:
 
    
December 31,
2020
  
Deferred tax asset
         
Organizational costs/startup expenses
    $ 19,143  
Federal Net Operating Loss
      14,265  
    
 
 
  
Total deferred tax asset
      33,408  
Valuation allowance
      (33,408 ) 
    
 
 
  
Deferred tax asset, net of allowance
    $ —    
    
 
 
  
Summary of income tax provision
The income tax provision consists of the following:
 
    
December 31,
2020
  
Federal
         
Current
    $ —    
Deferred
      33,408  
State
         
Current
      —    
Deferred
      —    
Change in valuation allowance
      (33,408 ) 
    
 
 
  
Income tax provision
    $ —    
    
 
 
  
Summary of reconciliation of the federal income tax rate
A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2020 is as follows:
 
Statutory federal income tax rate
      21.0 % 
State taxes, net of federal tax benefit
      0.0 % 
Permanent Book/Tax Differences
      (20.5 )% 
Change in valuation allowance
      (0.5 )% 
    
 
 
  
Income tax provision
      —   %