Marpai, Inc. General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliation between the effective tax rate on loss before provision for income taxes and the statutory tax rate is as follows:


	12/31/2022
Income tax expense (benefit) at federal statutory rate		21.0	%
State taxes		0.2	%
Change in valuation allowance		(20.4	)%
Change in deferred tax liability		1.9	%
Permanent differences		(1.4	)%
Other - net		0.6	%

Income tax expense (benefit)		1.9	%


	12/31/2021
Income tax expense (benefit) at federal statutory rate		21.0	%
Change in valuation allowance		(20.1	)%
Return to provision adjustments		(0.5	)%
Permanent differences		0.5	%
Other - net		(0.0	)%

Income tax expense (benefit)		0.9	%

Temporary differences which give rise to a significant portion of deferred tax assets are as follows at:


	December 31, 2022			December 31, 2021
Deferred income tax assets (liabilities):
Startup costs	$	1,035,317		$	1,001,272
Stock compensation - RSAs		875,498			584,881
Net operating loss - Federal		6,204,900			2,244,367
Net operating loss - State		1,264,598			522,491
Accrued expenses		—			174,289
Amortization		(1,217,409	)		(1,682,939	)
Depreciation		(262,179	)		(333,501	)
Operating lease assets		(813,972	)		(393,985	)
Operating lease liabilities		1,370,631			350,236
Deferred revenue		45,388			—

		8,502,772			2,467,111
Less: Valuation allowance		(9,982,652	)		(4,468,123	)

Deferred tax liabilities, net	$	(1,479,880	)	$	(2,001,012	)