Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 200

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 200
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 balance, along with a cash contribution of $ million from Mr. Zhou Ou
as capital contribution (see Note 13). As of June 30, 2023, a total of $ million were transferred and recorded as capital contribution
(see Note 13).

F-55

10 - INCOME TAX

(a) Income Tax Expense

Income tax benefit for the nine months ended December
31, 2024 was $ million, and income tax expense for the nine months ended December 31, 2023 amounted to $ million.

| Current  |     | For the Nine Months Ended 
 December 31,              
 2024                      |          |   |     | 2023 |         |   |
|:---------|:----|:--------------------------|---------:|:--|:----|:-----|--------:|:--|
| 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 | )