v3.26.1
Income Taxes (Tables)
9 Months Ended
Jan. 31, 2026
Income Taxes [Abstract]  
Schedule of Provision for Income Taxes

For the three months ended January 31, 2026, and 2025, the provision for income taxes consisted of the following:

 

   Three months
ended
January 31,
2026
(unaudited)
   Three months
ended
January 31,
2025
(unaudited)
 
Current:        
Federal income tax expense  $6,045   $818 
State income tax expense   3,946    756 
Deferred:          
Federal income tax expense   2,227    
 
State income tax expense   
    
 
Total income tax expense  $12,218   $1,574 

For the nine months ended January 31, 2026, and 2025, the provision for income taxes consisted of the following:

 

   Nine months
ended
January 31,
2026
(unaudited)
   Nine months
ended
January 31,
2025
(unaudited)
 
Current:        
Federal income tax expense  $7,699   $2,427 
State income tax expense   5,475    2,241 
Deferred:          
Federal income tax expense   2,227    
 
State income tax expense   
    
 
Total income tax expense  $15,401   $4,668 
Schedule of Effective Income Tax Rate

The following table reconciles the Company’s effective income tax rate for the three months ended January 31, 2026 and 2025:

 

   Three months
ended
January 31,
2026
(unaudited)
   Three months
ended
January 31,
2025
(unaudited)
 
Federal statutory rate   (21.0)%   21.0%
State statutory rate, net of effect of state income tax deductible to federal income tax   (6.88)%   6.98%
Permanent difference – penalties, interest, and others   0.31%   2.71%
Valuation allowance   29.85%   (28.77)%
Effective tax rate   2.28%   1.92%

The following table reconciles the Company’s effective income tax rate for the nine months ended January 31, 2026 and 2025:

 

   Nine months
ended
January 31,
2026
(unaudited)
   Nine months
ended
January 31,
2025
(unaudited)
 
Federal statutory rate   (21.0)%   (21.0)%
State statutory rate, net of effect of state income tax deductible to federal income tax   (6.98)%   (6.98)%
Permanent difference – penalties, interest, and others   0.15%   1.37%
Valuation allowance   28.27%   27.28%
Effective tax rate   0.44%   0.67%
Schedule of Deferred Tax Assets and Liabilities Deferred taxes are comprised of the following:
   January 31,
2026
(unaudited)
   April 30,
2025
 
Deferred tax assets:        
Operating lease liabilities, net of ROU  $127   $303 
Depreciation   3,055    
-
 
Bad debt expense   9,187    
-
 
NOL   2,191,384    122,022 
Valuation allowance   (2,203,753)   (120,098)
Deferred tax assets, net  $
-
   $2,227