v3.25.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes [Abstract]  
Schedule of Deferred Tax Assets

The Company’s net deferred tax assets are as follows:

 

December 31,

   

2024

 

2023

Deferred tax asset

 

 

 

 

 

 

 

 

Net operating loss carryforward

 

$

 

 

$

 

Startup/Organization Expenses

 

 

217,481

 

 

 

121,654

 

Total deferred tax asset

 

 

217,481

 

 

 

121,654

 

Valuation allowance

 

 

(217,481

)

 

 

(121,654

)

Deferred tax asset, net of allowance

 

$

 

 

$

 

Schedule of Income Tax Provision

The income tax provision consists of the following:

 

For the Year Ended
December 31,

   

2024

 

2023

Federal

 

 

 

 

 

 

 

 

Current

 

$

218,087

 

 

$

450,960

 

Deferred

 

 

(105,321

)

 

 

(56,079

)

State

 

 

 

 

 

 

 

 

Current

 

$

 

 

$

 

Deferred

 

 

 

 

 

 

Interest and penalties

 

 

14,550

 

 

 

 

Change in valuation allowance

 

 

105,321

 

 

 

56,079

 

Income tax provision

 

$

232,637

 

 

$

450,960

 

Schedule of Effective Income Tax Rate

A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows (in thousands):

 

For the Year Ended
December 31,

   

2024

 

2023

Income at U.S. statutory rate

 

21.00

%

 

21.00

%

State taxes, net of federal benefit

 

0.00

%

 

0.00

%

Transaction costs

 

9.36

%

 

0.00

%

Interest and penalties

 

3.92

%

 

0.00

%

Change in valuation allowance

 

28.35

%

 

2.98

%

Effective income tax rate

 

62.63

%

 

23.98

%