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Income Taxes (Tables)

3 Months Ended

12 Months Ended

Jul. 31, 2023

Apr. 30, 2023

Income Taxes [Abstract]

Schedule of Provision for Income Taxes Provisions

The provision for income taxes provisions consists of the following components:

		Three Months ended July 31, 2023				Three Months ended July 31, 2022
Current:
Federal income tax expense		$	82,564			$	7,720
State income tax expense			38,102				10,507
Deferred:
Federal income tax benefit			(1,320	)			(226	)
State income tax benefit			(440	)			(75	)
Total		$	118,906			$	17,926

The provision for income taxes provisions consists of the following components:

		Year ended April 30, 2023				Year ended April 30, 2022
Current:
Federal income tax expense		$	223,512			$	17,246
State income tax expense			116,099				10,492
Deferred:
Federal income tax benefit			(2,345	)			—
State income tax benefit			(780	)			—
Total		$	336,486			$	27,738

Schedule of Federal Statutory Rate on Income (Loss) before Income Taxes

The following is a reconciliation of the difference between the actual (benefit) provision for income taxes and the (benefit) provision computed by applying the federal statutory rate on income (loss) before income taxes:

		Three Months ended July 31, 2023			Three Months ended July 31, 2022
Federal statutory rate		21.00	%		(21.00	)%
State statutory rate, net of effect of state income tax deductible to federal income tax		7.02	%		(5.99	)%
Permanent difference – penalties, interest, and others		(7.62	)%		1.11	%
Utilization of net operating losses (“NOL”)		(12.89	)%		—	%
Valuation allowance		121.48	%		29.13	%
Effective tax rate		129.00	%		3.25	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred taxes are comprised of the following:

		July 31, 2023				April 30, 2023
Deferred tax assets:
Bad debt expense		$	40,550			$	70,929
Lease liabilities, net of ROU			524,149				441,997
NOL			730,181				583,490
Valuation allowance			(1,283,162	)			(1,085,551	)
Deferred tax assets, net		$	11,718			$	10,865
Deferred tax liability:
Trademark acquired at acquisition of Maison Monterey Park			50,367				51,273
Deferred tax liability, net of deferred tax assets		$	38,648			$	40,408

Deferred taxes are comprised of the following:

		April 30, 2023				April 30, 2022
Deferred tax assets:
Inventory reserve		$	—			$	13,101
Bad debt expense			70,929				—
Lease liabilities, net of ROU			441,997				—
NOL			583,490				872,592
Valuation allowance			(1,085,551	)			(885,693	)
Deferred tax assets, net		$	10,865			$	—
Deferred tax liability:
Trademark acquired at acquisition of Maison Monterey Park			51,273				—
Deferred tax liability, net of deferred tax assets		$	40,408			$	—

Schedule of Income Tax Rate Reconciliation

The following is a reconciliation of the difference between the actual (benefit) provision for income taxes and the (benefit) provision computed by applying the federal statutory rate on income (loss) before income taxes:

		Year ended April 30, 2023			Year ended April 30, 2022
Federal statutory rate		21.00	%		(21.00	)%
State statutory rate, net of effect of state income tax deductible to federal income tax		7.08	%		(6.88	)%
Permanent difference – penalties, interest, and others		(1.69	)%		(11.70	)%
Utilization of net operating losses (“NOL”)		(14.64	)%		—	%
Valuation allowance		5.28	%		44.00	%
Effective tax rate		17.03	%		4.42	%

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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.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-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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-SubTopic 10
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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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