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Income Taxes | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2022 | Dec. 31, 2021
Income Tax Disclosure [Abstract] |  |
Income Taxes | Note 10 – Income Taxes The tax effects of temporary differences that give rise to deferred tax assets are presented below: Schedule of Deferred Tax Assets
|  | For the period from February 26, 2021 to December 31, 2021 |
Deferred Tax Assets: |  |  |
Net operating loss carryforwards |  | $ | 87,611 |
Transaction costs |  |  | 42,000 |
Start-up costs |  |  | 16,885 |
Total deferred tax assets |  |  | 146,496 |
Valuation allowance |  |  | (146,496 | )
Deferred tax asset, net of valuation allowance |  | $ | — |
NORTHERN LIGHTS ACQUISITION CORP. NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS The income tax provision (benefit) consists of the following: Schedule of Income Tax Provision
|  | For the period from February 26, 2021 to December 31, 2021 |
Federal: |  |  |  |
Current |  | $ | — |
Deferred |  |  | (146,496 | )
State and local: |  |  |  |
Current |  |  | — |
Deferred |  |  | — |
Total |  |  | (146,496 | )
Change in valuation allowance |  |  | 146,496 |
Income tax provision (benefit) |  | $ | — |
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or 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 the temporary differences representing net 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 information available, management believes that significant uncertainty exists with the respect to the realization of the deferred tax assets and has therefore established a full valuation allowance. For the period from February 26, 2021 (inception) through December 31, 2021, the change in the valuation allowance was $146,496. A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: Schedule of Effective Tax Rate
|  | For the period from February 26, 2021 to December 31, 2021 |
Tax benefit at federal statutory rate |  |  | 21.0 | %
Increase (decrease) in tax provision resulting from: |  |  |  |
Warrants – fair market value change |  |  | (37.2 | )
Warrants – formation costs |  |  | 4.4 |
Change in valuation allowance |  |  | 11.8 |
Effective income tax rate |  |  | 0.0 | %
At December 31, 2021, we had $417,198 of U.S. net operating loss carryforwards available to offset future taxable income. These net operating losses do not expire. There were no unrecognized tax benefits related to uncertain tax positions at December 31, 2021. As a result of our operations, we file income tax returns in the US federal jurisdiction and in New York state and are subject to examination by the various taxing authorities, since exception. | Note 10 – Income Taxes The tax effects of temporary differences that give rise to deferred tax assets are presented below: Schedule of Deferred Tax Assets
|  | For the period from February 26, 2021 to December 31, 2021 |
Deferred Tax Assets: |  |  |
Net operating loss carryforwards |  | $ | 87,611 |
Transaction costs |  |  | 42,000 |
Start-up costs |  |  | 16,885 |
Total deferred tax assets |  |  | 146,496 |
Valuation allowance |  |  | (146,496 | )
Deferred tax asset, net of valuation allowance |  | $ | — |
NORTHERN LIGHTS ACQUISITION CORP. NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS The income tax provision (benefit) consists of the following: Schedule of Income Tax Provision
|  | For the period from February 26, 2021 to December 31, 2021 |
Federal: |  |  |  |
Current |  | $ | — |
Deferred |  |  | (146,496 | )
State and local: |  |  |  |
Current |  |  | — |
Deferred |  |  | — |
Total |  |  | (146,496 | )
Change in valuation allowance |  |  | 146,496 |
Income tax provision (benefit) |  | $ | — |
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or 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 the temporary differences representing net 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 information available, management believes that significant uncertainty exists with the respect to the realization of the deferred tax assets and has therefore established a full valuation allowance. For the period from February 26, 2021 (inception) through December 31, 2021, the change in the valuation allowance was $146,496. A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: Schedule of Effective Tax Rate
|  | For the period from February 26, 2021 to December 31, 2021 |
Tax benefit at federal statutory rate |  |  | 21.0 | %
Increase (decrease) in tax provision resulting from: |  |  |  |
Warrants – fair market value change |  |  | (37.2 | )
Warrants – formation costs |  |  | 4.4 |
Change in valuation allowance |  |  | 11.8 |
Effective income tax rate |  |  | 0.0 | %
At December 31, 2021, we had $417,198 of U.S. net operating loss carryforwards available to offset future taxable income. These net operating losses do not expire. There were no unrecognized tax benefits related to uncertain tax positions at December 31, 2021. As a result of our operations, we file income tax returns in the US federal jurisdiction and in New York state and are subject to examination by the various taxing authorities, since exception.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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