v3.24.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of C-corporation Income Tax Provision

		December 31
		2023				2022
Current taxes
Federal		$	83,402			$	268,803
State			18,044				(13,155	)
Deferred taxes
Federal			(556,000	)			(246,000	)
State			—				—
Provision for (benefit from) income taxes		$	(454,554	)		$	9,648

Schedule of reconciliation of income tax provisions

		2023				2022
Rate reconciliation:
Tax expense at U.S. statutory rate		$	(431,776	)		$	97,503
Change in deferred tax rate			(1,866	)			450
Prior year over / under accrual			93,702				—
Provision-to-return reconciliation			(110,457	)			(18,536	)
Temporary differences			—				(71,856	)
Other			(4,157	)			2,087
Income tax provision		$	(454,554	)		$	9,648

Schedule of deferred tax assets and liabilities

		December 31
		2023				2022
Deferred tax components
Unrealized (gain) loss on marketable securities		$	343,886			$	156,590
Depreciation			1,619				1,781
R&D and foreign credits			40,820				43,828
Lease liability			—				(39	)
Stock options			275,632				—
Acquisition costs			30,402
Accrued bonuses			66,500				—
Other			(1,859	)			(1,160	)
Net deferred tax asset		$	757,000			$	201,000

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- Definition

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.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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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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