v3.23.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of C-corporation Income Tax Provision

		December 31
		2022				2021
Current taxes
Federal		$	406,700			$	909,530
State			18,169				358,168
Deferred taxes
Federal			(246,000	)			(213,000	)
State			—				—
Provision for income taxes		$	178,869			$	1,054,698

Schedule of reconciliation of income tax provisions

		2022				2021
Rate reconciliation:
Tax expense at U.S. statutory rate		$	185,887			$	1,080,213
Change in deferred tax rate			450				(8,796	)
Provision-to-return reconciliation			(18,536	)			(14,743	)
Other			11,068				(1,976	)
Income tax provision		$	178,869			$	1,054,698

Schedule of deferred tax assets and liabilities

		December 31
		2022				2021
Deferred tax components
Unrealized (gain) loss on marketable securities		$	156,550			$	(46,660	)
Depreciation			1,781				2,458
R&D and foreign credits			43,828				—
Lease liability			(39	)			—
Other			(1,120	)			(798	)
Net deferred tax asset (liability)		$	201,000			$	(45,000	)

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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