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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of provision for income taxes

 

 

For the year ended

 

 

For the year ended

 

 

 

December 31,

2023

 

 

December 31,

2022

 

Current:

 

 

 

 

 

 

Federal

 

 

-

 

 

 

-

 

State

 

$-

 

 

$800

 

 

 

 

-

 

 

 

800

 

Deferred:

 

 

 

 

 

 

 

 

Federal

 

 

-

 

 

 

-

 

State

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Total provision for (benefit from) income taxes

 

$-

 

 

$800

 

Summary of Deferred Tax Assets Liabilities

 

 

For the year ended

 

 

For the year ended

 

 

 

December 31,

2023

 

 

December 31,

2022

 

Deferred Tax Assets:

 

 

 

 

 

 

Net operating losses

 

$2,118,207

 

 

$2,029,845

 

Other

 

 

-

 

 

 

1,900

 

Total Deferred Tax Asset

 

 

2,118,207

 

 

 

2,031,745

 

 

 

 

 

 

 

 

 

 

Valuation Allowance

 

 

(2,118,207 )

 

 

(2,031,537 )

 

 

 

 

 

 

 

 

 

Deferred Tax Liabilities

 

 

 

 

 

 

 

 

Fixed Assets

 

 

(208 )

 

 

(208 )

 

 

 

 

 

 

 

 

 

Net Deferred Tax Assets/(Liabilities)

 

$0

 

 

$0

 

Schedule of federal income tax

 

 

December 31,

2023

 

 

December 31,

2022

 

Tax at Federal Statutory Rate

 

 

21.00%

 

 

21.00%

State Taxes

 

 

2.10%

 

 

6.59%

Nondeductible Items

 

 

-16.13%

 

 

-5.81%

Valuation Allowance

 

 

-6.87%

 

 

-22.07%

Other

 

 

-0.11%

 

 

0.29%

Provision for Taxes

 

 

0.00%

 

 

0.00%