Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 878

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 8
Chunk 878
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 Current: 

    Federal 
    $(39) 
    $299 
  
    States 
     (16) 
     (43)
  
    Foreign 
     7  
     (74)
  
    Total current 
     (48) 
     182 
  
    Deferred: 

    Federal 
     1,356  
     1,071 
  
    States 
     1  
     81 
  
    Foreign 
     253  
     45 
  
    Total deferred 
     1,610  
     1,197 
  
    Total benefit from income taxes 
    $1,562  
    $1,379 

Tax
effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets for the years ended
June 30, 2025 and 2024 are presented below (in thousands):

 SCHEDULE
OF DEFERRED TAX ASSETS

    Years Ended June 30, 

    2025  
    2024 

    Deferred tax assets: 

    Intangible assets - U.S. 
    $685  
    $756 
  
    Net operating loss 
     2,222  
     801 
  
    Capital loss carryover 
     45  
     43 
  
    Accruals, reserves and other - U.S. 
     488  
     369 
  
    Total deferred tax assets - U.S. 
    $3,440  
    $1,969 

    Deferred tax liabilities: 

    Intangible assets - foreign 
    $(195) 
    $(313)
  
    Accruals, reserves and other - foreign 
     (26) 
     (47)
  
    Total deferred tax liabilities - foreign 
    $(221) 
    $(360)
  
    Total net deferred tax assets 
    $3,219  
    $1,609 

    F-21

The
Company’s accounting for deferred taxes involves the evaluation of several factors concerning the realizability of the Company’s
net deferred tax assets. The Company primarily considered such factors as the Company’s history of operating losses, the nature
of the Company’s deferred tax assets and the timing, likelihood and amount, if any, of future taxable income during the periods
in which those temporary differences and carryforwards become deductible. The Company does not have a