Registration of securities issued in business combination transactions

INCOME TAX (Tables)

v3.24.0.1
INCOME TAX (Tables)
12 Months Ended
Dec. 31, 2022
INCOME TAX  
Schedule of company's net deferred tax asset

    

December 31,

    

December 31,

2022

2021

Deferred tax assets

 

  

 

  

Net operating loss carryforward

$

$

3,844

Startup/Organizational expenses

 

147,861

 

31,151

Total deferred tax assets

 

147,861

 

34,995

Valuation allowance

 

(147,861)

 

(34,995)

Deferred tax assets, net of valuation allowance

$

$

Components of income tax provision

    

Year Ended

    

Year Ended

December 31,

December 31,

2022

2021

Federal

  

  

Current

$

421,211

$

Deferred

 

(75,979)

 

(34,995)

State and Local

 

  

 

  

Current

 

 

Deferred

 

(36,886)

 

Change in valuation allowance

 

112,865

 

34,995

Income tax provision

$

421,211

$

Reconciliation of the federal income tax rate to the Company's effective tax rate

    

Year Ended

    

Year Ended

 

December 31,

December 31,

2022

2021

 

Statutory federal income tax rate

21.0

%  

21.0

%

State taxes, net of federal tax benefit

 

6.98

%  

0.0

%

Valuation allowance

 

8.86

%  

(21.0)

%

Income tax provision

 

36.84

%  

0.0

%