Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes  
Schedule of net deferred tax assets (liability)

The Company’s net deferred tax assets (liability) at December 31, 2021 are as follows:

    

December 31,

 2021

Deferred tax assets (liability)

 

  

Net operating loss carryforward

$

38,345

Startup/Organization Expenses

 

332,625

Total deferred tax assets (liability)

 

370,970

Valuation Allowance

 

(370,970)

Deferred tax assets (liability)

$

Schedule of components of income tax expense

The income tax provision for the year ended December 31, 2021 consists of the following:

    

December 31,

2021

Federal

 

  

Current

$

Deferred

 

(370,970)

State and Local

 

  

Current

 

Deferred

 

Change in valuation allowance

 

370,970

Income tax provision

$

Schedule of reconciliation of the federal income tax rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2021 is as follows:

    

December 31,

 

2021

 

Statutory federal income tax rate

 

21.0

%

State taxes, net of federal tax benefit

 

0.0

%

Change in fair value of derivative liabilities

 

(30.8)

%

Change in fair value of convertible promissory note

 

0.04

%

Offering costs attributable to warrant liabilities

 

4.36

%

Valuation allowance

 

5.4

%

Income tax provision

 

0.0

%