Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2051

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 9C
Chunk 2051
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    Deferred 

    Federal 
     (33,866) 
     (22,845)
  
    State 
     (25,963) 
     (17,515)
  
    City 
     —  
     353 
  
    Total 
    $(59,829) 
    $(40,007)

(b) Deferred Tax Assets (Liabilities)

Net DTAs as of March 31, 2025 and 2024 amounted
to $94,983 and $35,199, respectively. Significant components of DTAs (DTLs), net are as follows:

    As of  March 31,  2025  
    As of  March 31,  2024 
  
    Net operating loss carry forwards 
    $1,506,378  
    $40,332 
  
    Inventory reserve 
     410,000  
     186,000 
  
    Operating right-of-use liability 
     4,837,000  
     5,810,000 
  
    Amortization difference 
     10,000  
     — 
  
    Total deferred tax assets (DTAs) 
     6,763,378  
     6,036,332 
  
    Valuation allowance 
     (1,714,000) 
     — 
  
    Deferred tax assets, net of valuation allowance 
    $5,049,378  
    $6,036,332 

    Accumulated depreciation 
     (460,395) 
     (482,133)
  
    Operating lease right-of-use assets 
     (4,494,000) 
     (5,519,000)
  
    Total deferred tax liabilities (DTLs) 
     (4,954,395) 
     (6,001,133)
  
    Deferred tax assets, net 
    $94,983  
    $35,199 

    Deferred tax assets (liabilities) – U.S., net 
    $—  
    $(5,000)
  
    Deferred tax assets – Canada, net 
    $94,983  
     40,199 

As of March 31, 2025 and 2024, the Company
had approximately $5.0 million and $6.0 million, respectively, in the DTAs, which respectively included approximately $1.5