Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 212

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 212
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 Subject Vesting liabilities |     |         (2.2 | )% |
| Costs related to Business Combination                                    |     |          3.7 | %  |
| Other permanent adjustments                                              |     |         (0.7 | )% |
| Effective tax rate                                                       |     |         27.4 | %  |

F-35

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 14 — INCOME TAX (cont.)

A reconciliation of the expected income tax expense (benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the year ended December 31, 2024:

|                                                                          |     | Year Ended   
 December 31, 
 2024         |            |   |
|:-------------------------------------------------------------------------|:----|:-------------|-----------:|:--|
| Income tax expense computed at federal statutory tax rate                |     | $            | 62,359,838 |   |
| Increase (decrease) due to:                                              |     |              |            |   |
| State income taxes, net of federal income tax benefit                    |     |              | 16,454,870 |   |
| Change in fair value of Earnout, True-up and Subject Vesting liabilities |     |              | (6,622,560 | ) |
| Costs related to Business Combination                                    |     |              | 11,021,988 |   |
| Other permanent adjustments                                              |     |              | (1,958,089 | ) |
| Total income tax expense                                                 |     | $            | 81,256,047 |   |

The components of income tax expense are as follows:

|                          |     | Year Ended   
 December 31, 
 2024         |            |
|:-------------------------|:----|:-------------|-----------:|
| Federal                  |     |              |            |
| Current tax expense      |     | $            |          — |
| Deferred tax expense     |     |              | 60,427,097 |
| Total federal            |     |              | 60,427,097 |
| State and local          |     |              |            |
| Current tax expense      |     |              |          — |
| Deferred tax expense     |     |              | 20,828,950 |
| Total state and local    |     |              | 20,828,950 |
| Total income tax