v3.25.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax [Abstract]  
Net Deferred Tax Asset (Liabilities)

The Company’s net deferred tax asset (liabilities) are as follows:

 

December 31,
2024

 

December 31,
2023

Deferred tax assets

 

 

 

 

 

 

 

 

Net operating loss carryforward

 

$

 

 

$

52,959

 

Startup Costs

 

 

173,116

 

 

 

541,988

 

Total deferred tax assets

 

 

173,116

 

 

 

594,947

 

Valuation allowance

 

 

(173,116

)

 

 

(594,947

)

Deferred tax assets, net of allowance

 

$

 

 

$

 

Schedule of Income Tax Provision

The income tax provision for the year ended December 31, 2024 and 2023 consists of the following:

 

December 31,
2024

 

December 31,
2023

Federal

 

 

 

 

 

 

 

 

Current

 

$

125,950

 

 

$

 

Deferred

 

 

421,831

 

 

 

(211,112

)

State

 

 

 

 

 

 

 

 

Current

 

$

 

 

$

 

Deferred

 

 

 

 

 

 

Change in valuation allowance

 

 

(421,831

)

 

 

211,112

 

Income tax provision

 

$

125,950

 

 

$

 

Schedule of Reconciliation of the Federal Income Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:

 

December 31,
2024

 

December 31,
2023

Statutory federal income tax rate

 

21.00

%

 

21.00

%

Permanent book/tax difference

 

(16.38

)%

 

(136.08

)%

Prior year – M&A (dead deal costs)

 

0.00

%

 

503.71

%

True up – 2023 temporary difference

 

(75.39

)%

 

0.00

%

Change in valuation allowance

 

54.50

%

 

(388.63

)%

Income tax provision

 

(16.27

)%

 

0.00

%