Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 44

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 of the provision for income taxes are as follows:

    For the Nine Months Ended  December 31, 

    2024  
    2023 
  
    Current 

    Federal 
    $101,808  
    $183,590 
  
    State 
     120,932  
     182,860 
  
    City 
     119,766  
     139,903 
  
    Deferred 

    Federal 
     (508,000) 
     166,500 
  
    State 
     (202,000) 
     42,300 
  
    City 
     (128,000) 
     24,500 
  
    Foreign 
     (26,160) 
     (7,656)
  
    Total 
    $(521,654) 
    $731,997 

The provision for income taxes is based on the following pretax income
(loss):

    For the Nine Months Ended  December 31, 

    2024  
    2023 
  
    U.S. 
    $(2,412,980) 
    $1,973,031 
  
    Canada 
     (115,517) 
     (33,146)
  
    Total 
    $(2,528,497) 
    $1,939,885 

For
the three months ended December 31, 2024, the total pre-tax loss was $1.1 million, which included $1.0 million pre-tax loss in the
U.S. and $0.1 million pre-tax loss in Canada. For the three months ended December 31, 2023, the total pre-tax income was $0.1
million, which included $0.1 million pre-tax income in the U.S. and $33,146 pre-tax loss in Canada. For the nine months ended
December 31, 2024, the total pre-tax loss was $2.5 million, which included $2.4 million pre-tax loss in the U.S. and $0.1 million
pre-tax loss in Canada. For the nine months ended December 31, 2023, the total pre-tax income was $1.9 million, which included $2.0
million pre-tax income in the U.S. and $$0.1 million pre-tax loss in Canada.

The following table reconciles to the Company’s