Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 327

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 13
Chunk 327
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 costs based on historical warranty claim experience. The following table presents warranty reserve activities at:   December 31, 2024  December 31, 2023 Beginning accrued warranty costs $30,000  $68,000 Provision for warranty expense  9,707   26,911 Settlement of warranty claims  (9,707)  (64,911)Ending accrued warranty costs $30,000  $30,000 

NOTE 15. INCOME TAXES The Company’s income tax expense (benefit) consisted of:   For the Year Ended   December 31,  December 31,   2024  2023 Current:      Federal $-  $- State  -   - Foreign  -   -    -     Deferred:        Federal  -   - State  -   - Foreign  -   -    -   - Total $-  $- The Company’s net income (loss) before income tax consisted of:   For the Year Ended   December 31,  December 31,   2024  2023        United States $(4,476,762) $(3,402,592)Foreign  -   - Total $(4,476,762) $(3,402,592)  Our income tax expense differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons: On December 22, 2017, the 2017 Tax Cuts and Jobs Act (“Tax Act”) was enacted into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. We are required to recognize the effect of the tax law changes in the period of enactment, such as re-measuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. The Tax Act did not give rise to any material impact on the consolidated