Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 679

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 679
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 Federal 

    State and local 
     15,325  
     7,141 
  
    Foreign 
     -  
     67,356 
  
    Total current tax provision 
     15,325  
     74,497 
  
    Deferred tax provision Federal 
     -  
     - 
  
    State and local 
     -  
     - 
  
    Foreign 
     -  
     - 
  
    Total deferred tax provision 
     -  
     - 

    Total provision for income taxes 
    $15,325  
    $74,497 

Deferred
tax assets (liabilities) consist of the following:

    2024  
    2023 
  
    Deferred tax assets 

    Stock options issued for services 
    $1,160,726  
    $135,604 
  
    Net Operating Loss Carryforwards 
     35,154,469  
     27,783,834 
  
    Section 174 Expenditures 
     2,483,764  
     1,243,418 
  
    R&D Tax Credits 
     6,818,064  
     6,406,470 
  
    Interest carryforward 
     954,073  
     - 
  
    Other 
     481,565  
     469,896 
  
    Total gross deferred tax assets 
     47,052,660  
     36,039,222 
  
    Less Valuation Allowance 
     (47,011,175) 
     (35,566,934)
  
    Net deferred tax assets 
    $41,485  
    $472,288 

    Deferred tax liabilities 

    Fixed Assets 
     -  
    $101,757 
  
    Right of Use Asset 
     (25,298) 
     (113,698)
  
    Amortization 
     -  
     13,080 
  
    Unrealized Fx gain (loss) 
     (776) 
     (473,427)
  
    Other 
     (15,411) 
     - 
  
    Total gross deferred tax liabilities 
     (41,485) 
    $(472,288)

    Net deferred tax liabilities 
    $-  
    $-