Sidus Space, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income tax (Tables)

Income tax (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Income Tax Reconciliation Income Tax Net Expenses

A reconciliation between expected income taxes, computed at the federal income tax rate of 21% applied to the pretax accounting loss, and our blended state income tax rate of 5.5% in 2023 and 2022, and the income tax net expense included in the consolidated statements of operations for the years ended December 31, 2023 and 2022 is as follows:

	2023			2022
	Years Ended December 31,
	2023			2022

Loss for the year	$	(14,328,348	)	$	(12,839,968	)

Income tax (recovery) at statutory rate	$	(3,009,000	)	$	(2,689,782	)
State income tax expense, net of federal tax effect		(788,100	)		(704,467	)
Permanent difference and other		-			-
Change in valuation allowance		3,797,100			3,394,249
Income tax expense per books	$	-		$	-

Schedule of Net Deferred Tax Assets

Net deferred tax assets consist of the following components as of:

Schedule of Net Deferred Tax Assets

	December 31, 2023			December 31, 2022

Non-operating loss carryforward	$	8,109,149		$	4,312,049
Valuation allowance		(8,109,149	)		(4,312,049	)
Net deferred tax asset	$	-		$	-