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Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes

Note 13 – Income Taxes

 

Other than the full year of 2022, the Company has generated net operating losses since inception, which would normally reflect a tax benefit in the Condensed Consolidated Statement of Operations and a deferred asset on the Condensed Consolidated Balance Sheet. However, because of the current uncertainty as to the Company’s ability to achieve sustained profitability, a valuation reserve has been established that offsets the amount of any tax benefit available for each period presented in the Condensed Consolidated Statements of Operations. The following table presents a reconciliation of its effective income tax rate to the U.S. statutory income tax rate for the three and nine months ended September 30, 2023.

 

Schedule of reconciliation of effective income tax rate For the Three Months Ended September 30,   For the Nine Months Ended September 30,
  2023   2022   2023   2022
  $ %   $ %   $ %   $ %
Provision (benefit) at statutory rate (605,293) 21.0%   45,348  21.0%   (1,639,438) 21.0%   1,968,466  21.0%
State Taxes (net of federal impact) (138,056) 4.8%   10,473  4.9%   (374,979) 4.8%   454,622  4.9%
Nondeductible Expenses (5,469) 0.2%   — 0.0%   (1,529) 0.0%   — 0.0%
Return to Provision (5,355) 0.2%   — 0.0%   (5,355) 0.1%   — 0.0%
Valuation Allowance 619,453  -21.5%   (55,821) -25.9%   1,886,581  -24.2%   (2,423,088) -25.9%
Income tax provision (benefit)  (134,720) 4.7%   — 0%   (134,720) 1.7%   — 0%