v3.26.1
Income Tax (Tables)
3 Months Ended
Mar. 31, 2026
Income Tax [Abstract]  
Schedule of Income Tax (Benefit) Expense

Total income tax (benefit) expense consists of the following:

 

For the Three Months March 31,   2026    2025 
           
Current provision (benefit):          
Federal  $
-
   $
-
 
State   
-
    
-
 
Total current provision (benefit)   
-
    
-
 
           
Deferred provision (benefit):          
Federal   
-
    
-
 
State   
-
    
-
 
Total deferred provision (benefit)   
-
    
-
 
           
Total tax provision (benefit)  $
-
   $
-
 
Schedule of Company’s Effective Tax Rate to the Statutory Federal Rate

A reconciliation of the Company’s effective tax rate to the statutory federal rate for the nine months ended March 31, 2026 and 2025 is as follows:

 

Description  March 31,
2026
   March 31,
2025
 
         
Statutory federal rate   21.00%   21.00%
State income taxes net of federal income tax benefit and others   6.98%   6.98%
Permanent differences for tax purposes and others   0.00%   0.00%
Change in valuation allowance   (27.98)%   (27.98)%
Effective tax rate   0.00%   0.00%
Schedule of Deferred Tax Assets and Liabilities The components of deferred tax assets and liabilities are as follows:
December 31,  March 31, 2026   December 31, 2025 
         
Deferred tax assets:        
Net operating loss  $6,863,965   $6,863,965 
Bad debt reserve   22,586    22,586 
Basis difference in fixed assets   332,510    332,510 
Operating lease liabilities   666,142    666,142 
State taxes   7,153    7,153 
Total Deferred tax assets   7,892,355    7,892,355 
Deferred tax liabilities:          
Operating lease right-of-use asset   (644,804)   (644,804)
Total Deferred tax liabilities   (644,804)   (644,804)
Net deferred tax assets   7,247,551    7,247,551 
Less – valuation allowance   (7,247,551)   (7,247,551)
           
Total deferred tax assets, net of valuation allowance  $
-
   $
-