v3.26.1
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 13 – Income Taxes

 

The components of the deferred tax assets and liabilities at December 31, 2025 and 2024 were approximately as follows:

 

   December 31, 2025   December 31, 2024 
Deferred Tax Assets          
Stock based compensation  $

11,142,537

   $

346,000

 
Intangibles   1,660,542    907,000 
Net operating loss carryforward   

18,451,788

    13,460,000 
Lease liabilities   

154,219

    43,000 
Capitalized research expenditures   367,225    367,000 
Impairment loss   

2,163,832

   - 
Bad debt reserve   41,936    31,000 
Other   9,042    9,000 
Total deferred tax assets   33,991,121    15,163,000 
           
Deferred Tax Liabilities          
Depreciation   (218,692)   (442,000)
Prepaid assets   (64,098)   (92,000)
Right-of-Use asset   (16,377)   (128,000)
Total deferred tax liabilities   (299,167)   (662,000)
           
Deferred Tax Assets   33,991,121    14,501,000 
Less: valuation allowance   (33,991,121)   (14,501,000)
Deferred tax asset - net  $-   $-

 

 

NEXTNRG, INC. AND SUBSIDIARIES

FORMERLY KNOWN AS EZFILL HOLDINGS, INC.

Notes to Consolidated Financial Statements

 

The components of the income tax benefit and related valuation allowance for the years ended December 31, 2025 and 2024 were as follows:

 

   December 31,
2025		   December 31,
2024		 
Current  $-   $- 
Deferred   (19,190,953)   (3,193,000)
Total income tax provision (benefit)   (19,190,953)   (3,193,000)
Less: valuation allowance   

19,190,953

    3,193,000 
Total Tax Provision   $-   $- 

 

A reconciliation of the provision for income taxes for the years ended December 31, 2025 and 2024 as compared to statutory rates is as follows:

 

   December 31,
2025		   December 31,
2024		 
Federal income tax expense (benefit) - 21%  $(18,516,959)  $(3,400,000)
State income tax expense (benefit) - 4.35% - net of federal effect   (3,835,656)   (704,000)
Permanent differences - net   3,161,662    911,000 
Deferred adjustments   -    - 
Change in valuation allowance   19,190,953   3,193,000 
Income tax expense (benefit)  $

-

  $- 

 

Federal net operating loss carry forwards at December 31, 2025 and 2024 were approximately as follows:

 

   December 31,
2025		   December 31,
2024		 
           
  $147,000,000   $59,000,000 

  

The Company reviews its filing positions for all open tax years in all U.S. Federal and State jurisdictions where the Company is required to file. The tax years subject to examination include the years 2021 and forward.

 

There are no uncertain tax positions that would require recognition in the consolidated financial statements. If the Company incurs an income tax liability in the future, interest on any income tax liability would be reported as interest expense and penalties on any income tax liability would be reported as income taxes. The Company’s conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based upon ongoing analyses of tax laws, regulations and interpretations thereof as well as other factors.