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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of provisions for income taxes

		Three Months Ended
		September 30,
		2022				2021
Provision for Income Taxes
Current Tax Provision U.S.		$	15,062			$	14,717
Current Tax Provision PRC			793,630				443,028
Deferred Tax Provision PRC			(376,405	)			(529,133	)
Total Provision for (Deferred tax benefit)/ Income Taxes		$	432,287			$	(71,388	)

		Nine Months Ended
		September 30,
		2022				2021
Provision for Income Taxes
Current Tax Provision U.S.		$	15,062			$	14,717
Current Tax Provision PRC			1,022,037				1,700,721
Deferred Tax Provision PRC			(1,197,630	)			3,235,556
Total Provision for (Deferred tax benefit)/ Income Taxes		$	(160,531	)		$	4,950,994

Schedule of deferred tax

		September 30,				December 31,
		2022				2021
Deferred tax assets (liabilities)
Depreciation and amortization of property, plant and equipment		$	14,915,860			$	14,754,456
Impairment of property, plant and equipment			761,925				783,433
Miscellaneous			353,366				342,170
Net operating loss carryover of PRC company			208,486				388,620
Total deferred tax assets			16,239,637				16,268,679
Less: Valuation allowance			(5,000,000	)			(5,000,000	)
Total deferred tax assets, net		$	11,239,637				11,268,679

Schedule of effective income tax rate

		Three Months Ended
		September 30,
		2022				2021
PRC Statutory rate			25.0	%			25.0	%
Effect of different tax jurisdiction
Effect of reconciling items in the PRC for tax purposes			(54.7	)%			(29.9	)%
Change in valuation allowance
Effective income tax rate			(29.7	)%			(4.9	)%

		Nine Months Ended
		September 30,
		2022				2021
PRC Statutory rate			25.0	%			25.0	%
Effect of different tax jurisdiction
Effect of reconciling items in the PRC for tax purposes			(21.7	)%			(27.9	)%
(Over) Under-provision in previous year
Change in valuation allowance			-				293.9	%
Effective income tax rate			3.3	%			291.0	%

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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