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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of net deferred tax assets

As of December 31, 2022 and 2021, the Company’s net deferred tax assets are as follows:

​

​	​	​	​	​	​	​
Deferred tax asset:		2022			2021
Organizational costs/Startup expenses	​	$	243,656	​	$	39,442
Federal net operating loss	​		—	​		31,932
Total deferred tax asset	​		243,656	​		71,374
Valuation allowance	​		(243,656)	​		(71,374)
Deferred tax asset, net of allowance	​	$	—	​	$	—

​

Schedule of income tax provision

The income tax provision consists of the following:

​

​	​	​	​	​	​	​
​	​	​	​	​	For the period from February 18, 2021
​	​	For the year		​	(inception) through
​		December 31, 2022			December 31, 2021
Federal:		​	​	​		​
Current	​	$	995,207	​	$	—
Deferred	​	​	172,282	​		71,374
​	​	​	​	​	​	​
State:	​	​	​	​
Current	​	​	—	​		—
Deferred	​	​	—	​		—
Valuation allowance	​	​	(172,282)	​		(71,374)
Income tax provision	​	$	995,207	​	$	—

​

Schedule of federal income tax rate to effective tax rate

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

​

​	​	​	​	​	​
​	​	​	​	For the period from February 18,	​
​	​	For the year	​	2021 (inception) through	​
​		December 31, 2022		December 31, 2021	​
Statutory federal income tax rate	​	21.0	%	21.0	%
Transaction costs	​	0.0	%	2.4	%
Change in fair value of the warrant liability and Sponsor Loans	​	(17.7)	%	(26.2)	%
Fair value of Private Placement Warrants in excess of purchase price	​	0.0	%	2.0	%
Change in valuation allowance	​	0.7	%	0.8	%
Income tax provision	​	4.0	%	0.0	%

​

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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-Section 50
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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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