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Income Taxes (Tables)

6 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The income tax provision consists of the following for the six months ended September 30, 2024 and 2023:

Schedule of Income Tax Provision 

		2024				2023
		Six Months Ended
		September 30
		2024				2023
Current income tax expense:
Federal		$	51,692			$	-
State			46,986				46,164
Total current income tax expense			98,678				46,164
Deferred income tax expense:
Federal			119,661				149,862
State			-				-
Total deferred income tax expense			119,661				149,862
Total income tax expense:		$	218,339			$	196,026

Schedule of Reconciliation of Provision for Income Taxes

The following table summarizes our income tax expense and effective income tax rate for the six months ended September 30 follows:

 Schedule of Reconciliation of Provision for Income Taxes 

		2024				2023
Income tax expense		$	218,339			$	196,026
Effective income tax rate (1)			26.4	%			21.1	%

(1) The federal statutory rate was 21% for three months ended September 30, 2024 and 2023.

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- References

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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