8
– Income Taxes
As
a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on December 22, 2017, the United States corporate income tax rate is
21% effective January 1, 2018.
The
sources of the differences follow:
Schedule
of States Federal Income Tax rate Income Loss Before Income Taxes
| | |
September 30,
2025 | | |
September 30,
2024 | |
| | |
Nine months ended | |
| | |
September 30,
2025 | | |
September 30,
2024 | |
| | |
| | |
| |
| Expected tax at statutory rates | |
$ | 108,050 | | |
$ | 12,425 | |
| State income taxes, net of federal income tax benefit | |
| 46,307 | | |
| 5,266 | |
| Non-deductible stock-based compensation | |
| 5,313 | | |
| - | |
| Non-taxable loan forgiveness income | |
| - | | |
| - | |
| Change in valuation allowance/NOL carryforward | |
| - | | |
| (12,425 | ) |
| Provision for (benefit from) income taxes | |
$ | 159,670 | | |
$ | 5,266 | |
|