Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 268

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 268
---
 an ownership change has occurred and
our ability to use our historical NOLs or credits is materially limited, it would harm our future operating results by effectively increasing
our future tax obligations. Section 382 and 383 of the Code would apply to all net operating loss and tax credit carryforwards, whether
the carryforward period is indefinite or not.

-17-

Unanticipated
changes in tax laws may affect future financial results.

We
are a U.S. corporation and thus subject to U.S. corporate income tax on its worldwide operations. Our principal operations and certain
potential customers are located in the United States, and as a result, we are subject to various U.S. federal, state and local taxes.
New U.S. laws and policies relating to taxes may have an adverse effect on our business and future profitability. Further, existing U.S.
tax laws, statutes, rules, regulations or ordinances could be interpreted, changed, modified or applied adversely to us.

In
recent years, the federal government has made significant changes to U.S. tax laws, including through the Tax Cuts and Jobs Act of 2017
(the “Tax Act”) and the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). On August 16, 2022,
the Inflation Reduction Act of 2022 (the “IRA”) was signed into law, with tax provisions primarily focused on implementing
a 15% minimum tax on global adjusted financial statement income, effective for tax years beginning after December 31, 2022, and a 1%
excise tax on share repurchases occurring after December 31, 2022. We may be subject to the new excise tax with respect to any redemptions
of our stock. Further, the current administration had previously set forth several tax proposals that would, if enacted, make further
significant changes to U.S. tax laws (including provisions enacted pursuant to the Tax Act). It is unclear whether these or similar changes
will be enacted and, if enacted, how soon any such changes could take effect. The passage of any legislation as a result of these proposals
and other similar changes in U.S. federal income tax laws could adversely affect our business and future profitability. Investors are
urged to consult with their legal and tax advisors with respect to any such legislation and the potential tax consequences of holding
our securities.

Our
use and development of artificial intelligence products may result in reputational harm and liability.

We
incorporate artificial intelligence