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Income Tax (Tables) | 9 Months Ended
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Dec. 31, 2024
Income Tax [Abstract] |
Schedule of Provision for Income Taxes | Significant components of the provision for income taxes are as follows:
|  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | 101,808 |  |  | $ | 183,590 |
State |  |  | 120,932 |  |  |  | 182,860 |
City |  |  | 119,766 |  |  |  | 139,903 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | (508,000 | ) |  |  | 166,500 |
State |  |  | (202,000 | ) |  |  | 42,300 |
City |  |  | (128,000 | ) |  |  | 24,500 |
Foreign |  |  | (26,160 | ) |  |  | (7,656 | )
Total |  | $ | (521,654 | ) |  | $ | 731,997 |
Significant components of the provision for income taxes are as follows:
|  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | 101,808 |  |  | $ | 183,590 |
State |  |  | 120,932 |  |  |  | 182,860 |
City |  |  | 119,766 |  |  |  | 139,903 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | (508,000 | ) |  |  | 166,500 |
State |  |  | (202,000 | ) |  |  | 42,300 |
City |  |  | (128,000 | ) |  |  | 24,500 |
Total |  | $ | (495,494 | ) |  | $ | 739,653 |
Significant components of the provision for income taxes are as follows:
|  | For the Nine Months Ended December 31 |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |
State |  |  | — |  |  |  | — |
City |  |  | — |  |  |  | — |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | (14,807 | ) |  |  | (4,334 | )
State |  |  | (11,353 | ) |  |  | (3,322 | )
City |  |  | — |  |  |  | — |
Total |  | $ | (26,160 | ) |  | $ | (7,656 | )
Schedule of Provision for Income Taxes | The provision for income taxes is based on the following pretax income (loss):
|  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |
U.S. |  | $ | (2,412,980 | ) |  | $ | 1,973,031 |
Canada |  |  | (115,517 | ) |  |  | (33,146 | )
Total |  | $ | (2,528,497 | ) |  | $ | 1,939,885 |
Schedule of Reconciles to the Company’s Effective Tax Rate | The following table reconciles to the Company’s effective tax rate:
|  | For the Nine Months Ended December 31 |
|  | 2024 |  |  | 2023 |
Pre-tax book (loss) income |  | $ | (2,528,497 | ) |  | $ | 1,939,885 |
Federal Statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State income tax rate, net of federal income tax benefit |  |  | 4.3 | % |  |  | 8.0 | %
City income tax rate, net of federal income tax benefit |  |  | 3.7 | % |  |  | 5.0 | %
Foreign statutory rate |  |  | 0.4 | % |  |  | (0.4 | )%
Permanent differences |  |  | (4.0 | )% |  |  | 5.3 | %
Return to project adjustment |  |  | (4.8 | )% |  |  | (1.4 | )%
Total |  |  | 20.6 | % |  |  | 37.5 | %
Schedule of Deferred Tax Assets | Significant components of DTAs (DTLs), net are as follows:
|  | As of December 31, 2024 |  |  | As of March 31, 2024 |
Net operating loss carry forwards |  | $ | 716,087 |  |  | $ | 40,332 |
Inventory reserve |  |  | 330,000 |  |  |  | 186,000 |
Lease liability |  |  | 5,216,000 |  |  |  | 5,810,000 |
Less: Valuation allowance |  |  | — |  |  |  | — |
Total deferred tax assets (DTAs) |  | $ | 6,262,087 |  |  | $ | 6,036,332 |
Accumulated depreciation |  |  | (493,881 | ) |  |  | (482,133 | )
ROU asset |  |  | (4,873,000 | ) |  |  | (5,519,000 | )
Total deferred tax liabilities (DTLs) |  |  | (5,366,881 | ) |  |  | (6,001,133 | )
Total deferred tax assets, net |  | $ | 895,206 |  |  | $ | 35,199 |
Deferred tax assets (liabilities) – U.S., net |  | $ | 833,000 |  |  | $ | (5,000 | )
Deferred tax assets – Canada, net |  | $ | 62,206 |  |  |  | 40,199 |

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