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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income tax provision
The Company files income tax returns in the U.S. federal and Connecticut jurisdictions and is subject to examination. The income tax provision consists of the following:
For the Year Ended December 31, 2022For the Period from January 28, 2021
(inception) through December 31, 2021
Current 
Federal$309,320 $— 
State— — 
Deferred 
Federal(15,220)(290,181)
State—  
Valuation allowance15,220 290,181 
Income tax provision$309,320 $— 
Summary of significant components of the Company's deferred tax assets
The Company’s net deferred tax assets are as follows:
December 31,
20222021
Deferred tax assets:
Start-up/Organization costs$305,401 $210,307 
Net operating loss carryforwards— 79,874 
Total deferred tax assets305,401 290,181 
Valuation allowance(305,401)(290,181)
Deferred tax asset, net of allowance$— $— 
Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate
A reconciliation of the statutory federal income tax rate (benefit) to the Company’s effective tax rate (benefit) is as follows:
For the Year Ended December 31, 2022For the Period from January 28, 2021 (inception) through December 31, 2021
Statutory federal income tax rate21.0 %21.0 %
Change in fair value of derivative warrant liabilities59.4 %(855.9)%
Offering costs allocated to derivative warrant liabilities0.0 %214.0 %
Gain from settlement of deferred underwriting commissions3.4 %— %
Capitalized merger costs(111.9)%— %
Change in valuation allowance(1.5)%620.9 %
Income tax expense(29.6)%0.0 %