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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2023

Income Taxes [Abstract]

Schedule of Provisions for Income Taxes

The provisions for income taxes for three months ended September 30, 2023 and 2022 were as follows:

		Three Months Ended
		September 30,
		2023				2022
Provision for Income Taxes
Current Tax Provision U.S.		$	-			$	15,062
Current Tax Provision PRC			(3,236	)			793,630
Deferred Tax Provision PRC			-				(376,405	)
Total Provision for (Deferred tax benefit)/ Income Taxes		$	(3,236	)		$	432,287

		Nine Months Ended
		September 30,
		2023				2022
Provision for Income Taxes
Current Tax Provision U.S.		$	-			$	15,062
Current Tax Provision PRC			348,024				1,022,037
Deferred Tax Provision PRC			-				(1,197,630	)
Total Provision for (Deferred tax benefit)/ Income Taxes		$	348,024			$	(160,531	)

Schedule of Deferred Tax

A summary of the otherwise deductible (or taxable) deferred tax items is as follows:

		September 30,				December 31,
		2023				2022
Deferred tax assets (liabilities)
Depreciation and amortization of property, plant and equipment		$	15,938,215			$	15,474,485
Impairment of property, plant and equipment			948,175				796,559
Miscellaneous			124,058				615,436
Net operating loss carryover of PRC company			235,109				213,620
Total deferred tax assets			17,245,557				17,100,100
Less: Valuation allowance			(17,245,557	)			(17,100,100	)
Total deferred tax assets, net		$	-				-

Schedule of Reconciles the Statutory Rates Effective Tax Rates

		Three Months Ended
		September 30,
		2023				2022
PRC Statutory rate			25.0	%			25.0	%
Effect of tax and book difference			(2.6	)%			(54.7	)%
Change in valuation allowance			(22.2	)%			-
Effective income tax rate			0.2	%			(29.7	)%

		Nine Months Ended
		September 30,
		2023				2022
PRC Statutory rate			25.0	%			25.0	%
Effect of tax and book difference			(28.6	)%			(21.7	)%
Change in valuation allowance			(2.6	)%			-
Effective income tax rate			(6.2	)%			3.3	%

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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
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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.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
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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.

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