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, 2022

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 2022 and 3.5% in 2021, and the income tax net expense included in the consolidated statements of operations for the year ended December 31, 2022, and 2021 is as follows:

	Year Ended			Year Ended
	December 31,			December 31,
	2022			2021

Loss for the year	$	(12,839,968	)	$	(3,746,138	)

Income tax (recovery) at statutory rate	$	(2,689,782	)		(786,700	)
State income tax expense, net of federal tax effect		(704,467	)		(131,100	)
Permanent difference and other		-			-
Change in valuation allowance		3,394,249			917,800
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,			December 31,
	2022			2021

Non-operating loss carryforward	$	4,312,049		$	917,800
Valuation allowance		(4,312,049	)		(917,800	)
Net deferred tax asset	$	-		$	-