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Income Taxes | 12 Months Ended
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Dec. 31, 2024
Income Taxes [Abstract] |
INCOME TAXES | NOTE 9 - INCOME TAXES For the years ended December 31, 2024 and 2023, the Company incurred $430,783 and $443,990, respectively, of current income tax expense. The Company’s income tax provision consists of the following as of December 31, 2024 and 2023:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Federal |  |  |  |  |  |
Current |  | $ | 430,783 |  |  | $ | 443,990 |
Deferred |  |  | (460,667 | ) |  |  | (203,709 | )
Change in valuation allowance |  |  | 460,667 |  |  |  | 203,709 |
Income tax provision |  | $ | 430,783 |  |  | $ | 443,990 |
The Company’s net deferred tax assets consisted of the following as of December 31, 2024 and 2023:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax asset |  |  |  |  |  |
Startup expenses |  | $ | 460,667 |  |  | $ | 205,034 |
Total deferred tax assets |  |  | 460,667 |  |  |  | 205,034 |
Valuation allowance |  |  | (460,667 | ) |  |  | (205,034 | )
Deferred tax asset, net of valuation allowance |  | $ | - |  |  | $ | - |
The income tax benefit differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income for the years ended December 31, 2024 and 2023 due to the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Statutory federal income tax rate |  |  | 21.00 | % |  |  | 21.00 | %
Change in fair value of overallotment liability |  |  | - | % |  |  | (2.21 | )%
Valuation allowance |  |  | 30.40 | % |  |  | 15.93 | %
Income tax provision expense/(benefit) |  |  | 51.40 | % |  |  | 34.72 | %
As of December 31, 2024 and 2023, the Company had U.S. federal net operating loss carryovers of $0. In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. The Company has no uncertain tax positions related to federal and state income taxes. The federal tax returns for the Company since inception remains open for examination. When the Company is assessed interest or penalties it will be classified in the financial statements as tax expense. For the year ended December 31, 2024, the Company incurred $22,012 of interest and penalties on the unremitted income tax obligations. No interest or penalties were incurred during the year ended December 31, 2023.

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