Registration of securities issued in business combination transactions

INCOME TAX (Tables)

v3.24.1.1.u2
INCOME TAX (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of company's net deferred tax asset

    

December 31,

    

December 31,

2023

2022

Deferred tax assets

 

  

 

  

Net operating loss carryforward

$

$

Startup/Organizational expenses

 

756,241

 

147,861

Total deferred tax assets

 

756,241

 

147,861

Valuation allowance

 

(756,241)

 

(147,861)

Deferred tax assets, net of valuation allowance

$

$

Components of income tax provision

    

Year Ended

    

Year Ended

December 31,

December 31,

2023

2022

Federal

  

  

Current

$

810,659

$

421,211

Deferred

 

(456,612)

 

(75,979)

State and Local

 

 

  

Current

 

 

Deferred

 

(151,769)

 

(36,886)

Change in valuation allowance

 

603,381

 

112,865

Income tax provision

$

810,659

$

421,211

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

    

Year Ended

    

Year Ended

 

December 31,

December 31,

2023

2022

 

Statutory federal income tax rate

21.0

%  

21.0

%

State taxes, net of federal tax benefit

 

6.98

%  

6.98

%

Valuation allowance

 

84.15

%  

8.85

%

Income tax provision

 

112.13

%  

36.84

%