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Taxes (Tables)
12 Months Ended
Jun. 30, 2023
Taxes [Abstract]  
Schedule of Income (Loss) Before Income Taxes Income (loss) before income taxes
   For the years ended June 30, 
   2023   2022   2021 
Mainland China  $4,350,067   $17,366,634   $14,814,221 
Non- Mainland China   (3,580,421)   (9,682,434)   (6,493,761)
   $769,646   $7,684,200   $8,320,460 
Schedule of Statutory Rate to the Company's Effective Tax Rate The following table reconciles the statutory rate to the Company’s effective tax rate:
   For the years ended June 30, 
   2023   2022   2021 
PRC statutory income tax rate   25.0%   25.0%   25.0%
Effect of income tax rate difference in other jurisdictions   115.5%   25.8%   19.1%
Effect of tax rate changes on deferred taxes   7.9%   (0.3)%   (0.5)%
Effect of PRC preferential tax rate and tax relief   (28.5)%   (10.1)%   (5.3)%
Tax exempt income   (5.1)%   
-
    
-
 
Research and development credits   (230.4)%   (18.0)%   (28.9)%
Business Insurance   13.7%   1.5%   1.3%
Late payment interest   42.5%   0.5%   0.6%
Withholding tax   9.1%   
-
    11.7%
Depreciation and Amortization   7.5%   0.4%   (0.2)%
Investment gain/loss   43.2%   (1.5)%   (0.1)%
Statutory income/expense   (6.1)%   (1.4)%   1.6%
Intercompany transfers   (24.7)%   10.8%   7.5%
Deferred tax   
-
    
-
    (0.3)%
Change in valuation allowances   43.3%   6.6%   (16.7)%
Goodwill Provision   69.0%   
-
    
-
 
Others   5.8%   0.5%   0.3%
Effective tax rate   87.7%   39.8%   15.1%

 

Schedule of Provision (Benefit) for Income Tax The provision (benefit) for income tax consists of the following:
   For the years ended June 30, 
   2023   2022   2021 
Current income tax  $410,317   $2,800,162   $1,670,733 
Deferred income tax   264,027    245,830    (413,609)
Total provision for income tax expenses  $674,344   $3,045,992   $1,257,124 
Schedule of Deferred Tax Assets and Liabilities The significant components of the deferred tax assets and liabilities are as follows:
   As of June 30, 
   2023   2022 
Deferred tax assets:        
Net operating loss carry forwards  $996,177   $743,898 
Accrued expenses   39,516    163,497 
Lease liability   169,375    
-
 
Share of investee’s loss   27,078    129,191 
Others   28,724    71,714 
Valuation allowances   (1,009,596)   (781,260)
Total deferred tax assets  $251,274   $327,040 
           
Deferred tax liabilities:          
Right-of-use assets  $169,375   $
-
 
Intangible assets   117,781    150,547 
Share of investee’s income   67,601    
-
 
Total deferred tax liabilities  $354,757   $150,547 
           
Net deferred tax assets   81,899    327,040 
Net deferred tax liabilities   185,382    150,547 
Schedule of Unrecognized Tax Benefit A reconciliation of the beginning and ending amount of unrecognized tax benefit was as follows:
   2023   2022   2021 
Balance at July 1  $3,095,554   $1,333,608   $194,939 
Increase   934,563    2,132,154    1,139,596 
Decrease   (1,386,797)   (267,622)   (47,149)
Foreign currency translation adjustment   (201,235)   (102,586)   46,222 
Balance at June 30  $2,442,085   $3,095,554   $1,333,608 
Schedule of Taxes Payable The Company’s tax payables consist of the following:
   As of June 30, 
   2023   2022 
         
VAT payable  $654,799   $693,239 
Corporate income tax payable   417,445    462,792 
Withholding tax payable   343,753    349,582 
Disability insurance fund payable   1,011,958    776,979 
Other tax payables   75,420    72,474 
Total tax payables  $2,503,375   $2,355,066