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Income taxes (Tables) | 9 Months Ended
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Jan. 31, 2024
Income Taxes [Abstract] |
Schedule of Provision for Income Taxes Provisions | The provision for income taxes provisions consisted of the following components:
|  | Three Months ended January 31, 2024 |  |  | Three Months ended January 31, 2023 |
Current: |  |  |  |  |  |
Federal income tax expense |  | $ | 117,066 |  |  | $ | 51,442 |
State income tax expense |  |  | 44,058 |  |  |  | 37,346 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax expense (benefit) |  |  | (1,852 | ) |  |  | 7,716 |
State income tax expense (benefit) |  |  | (616 | ) |  |  | 2,566 |
Total |  | $ | 158,656 |  |  | $ | 99,070 |
|  | Nine Months ended January 31, 2024 |  |  | Nine Months ended January 31, 2023 |
Current: |  |  |  |  |  |
Federal income tax expense |  | $ | 314,714 |  |  | $ | 126,185 |
State income tax expense |  |  | 116,143 |  |  |  | 71,195 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax benefit |  |  | (4,604 | ) |  |  | (6,175 | )
State income tax benefit |  |  | (1,531 | ) |  |  | (2,054 | )
Total |  | $ | 424,722 |  |  | $ | 189,151 |
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 January 31, 2024 |  |  | Three Months ended January 31, 2023 |
Federal statutory rate expense (benefit) |  |  | (79,149 | ) |  |  | 274,164 |
State statutory rate, net of effect of state income tax deductible to federal income tax |  |  | (25,658 | ) |  |  | 92,473 |
Permanent difference – penalties, interest, and others |  |  | 73,945 |  |  |  | 29,348 |
Utilization of net operating losses (“NOL”) |  |  | — |  |  |  | (244,859 | )
Changes in valuation allowance |  |  | 189,518 |  |  |  | (52,056 | )
Tax expense per financial statements |  |  | 158,656 |  |  |  | 99,070 |
|  | Nine Months ended January 31, 2024 |  |  | Nine Months ended January 31, 2023 |
Federal statutory rate expense (benefit) |  |  | (9,676 | ) |  |  | 297,661 |
State statutory rate, net of effect of state income tax deductible to federal income tax |  |  | (1,249 | ) |  |  | 100,952 |
Permanent difference – penalties, interest, and others |  |  | 86,085 |  |  |  | 54,845 |
Utilization of NOL |  |  | (24,138 | ) |  |  | (300,508 | )
Change in valuation allowance |  |  | 373,700 |  |  |  | 36,201 |
Tax expense per financial statements |  |  | 424,722 |  |  |  | 189,151 |
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 were comprised of the following:
|  | January 31, 2024 |  |  | April 30, 2023 |
Deferred tax assets: |  |  |  |  |  |
Bad debt expense |  | $ | 54,206 |  |  | $ | 70,929 |
Inventory impairment loss |  |  | 39,642 |  |  |  | — |
Investment loss on equity method investment |  |  | 17,902 |  |  |  | — |
Lease liabilities, net of ROU |  |  | 603,181 |  |  |  | 441,997 |
NOL |  |  | 451,006 |  |  |  | 583,490 |
Valuation allowance |  |  | (1,151,652 | ) |  |  | (1,085,551 | )
Deferred tax assets, net |  | $ | 14,285 |  |  | $ | 10,865 |
Deferred tax liability: |  |  |  |  |  |  |  |
Trademark acquired at acquisition of Maison Monterey Park |  |  | 48,558 |  |  |  | 51,273 |
Deferred tax liability, net of deferred tax assets |  | $ | 34,273 |  |  | $ | 40,408 |

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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