Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 199

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 199
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325  
     74,497 
  
    Deferred tax provision Federal 
     -  
     - 
  
    State and local 
     -  
     - 
  
    Foreign 
     -  
     - 
  
    Total deferred tax provision 
     -  
     - 

    Total provision for income taxes 
    $15,325  
    $74,497 

Deferred
tax assets (liabilities) consist of the following:

    2024  
    2023 
  
    Deferred tax assets 

    Stock options issued for services 
    $1,160,726  
    $135,604 
  
    Net Operating Loss Carryforwards 
     35,154,469  
     27,783,834 
  
    Section 174 Expenditures 
     2,483,764  
     1,243,418 
  
    R&D Tax Credits 
     6,818,064  
     6,406,470 
  
    Interest carryforward 
     954,073  
     - 
  
    Other 
     481,565  
     469,896 
  
    Total gross deferred tax assets 
     47,052,660  
     36,039,222 
  
    Less Valuation Allowance 
     (47,011,175) 
     (35,566,934)
  
    Net deferred tax assets 
    $41,485  
    $472,288 

    Deferred tax liabilities 

    Fixed Assets 
     -  
    $101,757 
  
    Right of Use Asset 
     (25,298) 
     (113,698)
  
    Amortization 
     -  
     13,080 
  
    Unrealized Fx gain (loss) 
     (776) 
     (473,427)
  
    Other 
     (15,411) 
     - 
  
    Total gross deferred tax liabilities 
     (41,485) 
    $(472,288)

    Net deferred tax liabilities 
    $-  
    $- 

In assessing the realizability of deferred tax
assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The ultimate realization of deferred tax assets is dependent upon the generation