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Income Tax Provision
 9 Months Ended
Sep. 30, 2023
Income Tax Provision [Abstract]  
INCOME TAX PROVISION
S.income tax Provision:

 

The Company computes its provision for income taxes by applying the estimated annual effective tax rate to pretax income and adjust the provision for discrete tax items recorded in the period.

 

The provision for income taxes as of and for the nine months ended September 30, 2023 and 2022 consisted of the following:

 

   2023   2022 
Federal:        
Current  $
-
   $48,282 
Deferred   (335,000)   (318,900)
Total   (335,000)   (270,618)
           
State:          
Current   29,043    (9,254)
Deferred   (158,000)   (113,900)
Total   (128,956)   (123,154)
           
Provision for income taxes  $(463,957)  $(393,772)

 

The Company has an income tax NOL carryforward related to continued operations as of September 30, 2023 and 2022 of approximately $3,114,000 and $174,400, respectively. As of September 30, 2023 and 2022, the carryforward is recorded as a deferred tax asset of $1,334,000 and $545,800, respectively. Such deferred tax assets can be carried forward indefinitely.