INCOME TAXES

3 Months Ended

Mar. 31, 2025

NOTE 7:

INCOME TAXES

Income tax expense during interim periods is based on applying the estimated annual effective income tax rate to interim period operations. The estimated annual effective income tax rate may vary from the statutory rate due to the impact of permanent items relative to our pre-tax income, as well as by any valuation allowance recorded. We employ an asset and liability approach that results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial basis and the tax basis of those assets and liabilities. A valuation allowance is established when it is more likely than not that some of the deferred tax assets will not be realized. At March 31, 2025 and December 31, 2024, management has recorded a full deferred tax asset valuation allowance.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Koil Energy Solutions, Inc. 10-Q