XML 91 R14.htm IDEA: XBRL DOCUMENT
v3.24.1

INCOME TAX | 12 Months Ended
--- | ---
Dec. 31, 2023
INCOME TAX |
INCOME TAX | NOTE 8 — INCOME TAX The Company’s net deferred tax assets (liabilities) for the year ended December 31, 2023 and 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2022
Deferred tax assets (liabilities) |  | ​ | ​ | ​ | ​ |
Startup organizational expenses | ​ | $ | 1,558,190 | ​ | $ | 562,030
Unrealized gain on marketable securities | ​ | ​ | — | ​ |  | (294,084)
Total deferred tax assets | ​ | ​ | 1,558,190 | ​ | ​ | 267,946
Valuation allowance | ​ | ​ | (1,558,190) | ​ |  | (562,030)
Deferred tax assets (liabilities), net of valuation allowance | ​ | $ | — | ​ | $ | (294,084)
​ The income tax provision for the year ended December 31, 2023 and 2022 consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2022
Federal | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 4,523,401 | ​ | $ | 1,180,272
Deferred | ​ | ​ | (486,685) | ​ | ​ | (44,129)
State and Local | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 1,862,831 | ​ | ​ | —
Deferred | ​ | ​ | (803,558) | ​ | ​ | —
Change in valuation allowance | ​ | ​ | 996,160 | ​ | ​ | 338,213
Income tax provision | ​ | $ | 6,092,149 | ​ | $ | 1,474,356
​ As of December 31, 2023 and 2022, the Company did not have any of U.S. federal and state net operating loss carryovers available to offset future taxable income. In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the year ended December 31, 2022, the change in the valuation allowance was $338,213. For the year ended December 31, 2023, the change in the valuation allowance was $996,160. A reconciliation of the federal income tax rate to the Company’s effective tax rate for the year ended December 31, 2023 and 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, |
​ |  | 2023 |  | 2022 |
Statutory federal income tax rate | ​ | 21.00 | % | 21.00 | %
State taxes, net of federal tax benefit | ​ | 4.66 | % | 0.00 | %
Business combination expense | ​ | 2.71 | % | 0.00 | %
Valuation allowance | ​ | 5.55 | % | 6.30 | %
Income tax provision | ​ | 33.92 | % | 27.30 | %
​ The Company files income tax returns in the U.S. federal jurisdiction and is subject to examination by the various taxing authorities. The Company’s tax returns for the year ended December 31, 2023 and 2022 remain open and subject to examination. The Company considers New York to be a significant state tax jurisdiction.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration