Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 307

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1A
Chunk 307
---
 (871
    )

    Deferred tax asset, net of valuation allowance
     
    $
    3,510

    $
    3,714

    December 31,2024

    December 31,2023

    Intangibles
     
    $
    (3,508
    )
     
    $
    (4,338
    )
  
    Property, plant & equipment

    (2
    )

    (13
    )
  
    Other

    -

    Capitalized research

    -

    Total deferred tax liabilities

    (3,510
    )

    (4,351
    )

    Net Deferred Tax Asset (Liability)
     
    $
    -

    $
    (637
    )

    F-35

The income tax provision consists of the following for the years ended December 31, 2024, and 2023:

    Schedule of income tax provision

    Year ended December 31, 2024

    Period fromMarch 15, 2023 to December 31,2023

    Period fromJanuary 1, 2023 toMarch 14,2023

    Foreign

    Current
     
    $
    -

    $
    -

    $
    -

    Deferred

    -

    -

    4,054

    Federal

    Current

    -

    (7
    )

    -

    Deferred

    (5,824
    )

    (2,154
    )

    (637
    )

    State and Local

    Current

    2

    19

    -

    Deferred

    (164
    )

    (506
    )

    (273
    )

    (5,986
    )

    (2,648
    )

    3,144

    Change in valuation allowance

    5,350

    (924
    )

    (3,144
    )
  
    Income tax expense/(benefit)
     
    $
    (637
    )
     
    $
    (3,572
    )
     
    $
    -

As of December
31, 2024, the Company has U.S. federal and state net operating loss carryover of approximately $7,494
thousand and $4,424
thousand respectively and Canada net operating loss carryover of approximately $11,353
thousand. The federal NOLs generated through 2017 which if unutilized