Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.22.4
Income Tax (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Summary of Net Deferred Tax Assets and liabilities

The Company’s net deferred tax assets (liabilities) as of December 31, 2022 and December 31, 2021 is as follows:

 

Deferred tax assets:

 

December 31,

2022

 

 

December 31,

2021

 

Start-up costs

 

$

293,772

 

 

$

22,065

 

Net operating loss carryforwards

 

 

 

 

 

37,103

 

Total deferred tax assets

 

 

293,772

 

 

 

59,168

 

Valuation allowance

 

 

(293,772

)

 

 

(59,168

)

Deferred tax assets, net of allowance

 

$

 

 

$

 

 

Summary of Income Tax Provision

The income tax provision for the year ended December 31, 2022 and for the period from February 8, 2021 (inception) through December 31, 2021 consists of the following:

 

 

 

For the year ended December 31, 2022

 

 

For the period

from February

8, 2021

(inception)

through

December 31,

2021

 

Federal

 

 

 

 

 

 

 

 

Current

 

$

617,905

 

 

$

 

Deferred

 

 

(234,604

)

 

 

(59,168

)

State

 

 

 

 

 

 

 

 

Current

 

$

 

 

$

 

Deferred

 

 

 

 

 

 

Change in valuation allowance

 

 

234,604

 

 

 

59,168

 

Income tax provision

 

$

617,905

 

 

$

 

 

 

Summary of Reconciliation of Federal Income Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate as of December 31, 2022 and December 31, 2021 is as follows:

 

 

 

For the year ended December 31, 2022

 

 

For the period

from February

8, 2021

(inception)

through

December 31,

2021

 

Statutory federal income tax rate

 

 

21.0

%

 

 

21.0

%

State taxes, net of federal tax benefit

 

 

0.0

%

 

 

0.0

%

Change in valuation allowance

 

 

12.9

%

 

 

(21.0

)%

Income tax provision

 

 

33.9

%

 

 

0.0

%