Company: RIVF
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001493152-25-018109
Chunk: 565

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1C
Chunk 565
---
 Current: 

    Federal 
    $-  
    $- 
  
    State 
     -  
     - 
  
    Total
    Current 
     -  
     - 
  
    Deferred: 

    Federal 
    $-  
    $- 
  
    State 
     -  
     - 
  
    Total
    Deferred 
     -  
     - 
  
    Total
    Tax Provision 
    $-  
    $- 

The
Company accounts for income taxes under ASC 740, Income Taxes (“ASC 740”), which provides for an asset and liability
approach of accounting for income taxes. Under this approach, deferred tax assets and liabilities are recognized based on anticipated
future tax consequences, using currently enacted tax laws, attributed to temporary differences between the carrying amounts of assets
and liabilities for financial reporting purposes and the amounts calculated for income tax purposes.

The
Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making
such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable
temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.

A
reconciliation of the federal income tax rate to the Company’s effective tax rate for the periods ended June 30, 2025 and June
30, 2024 were as follows:

 SCHEDULE OF RECONCILIATION OF THE FEDERAL INCOME TAX RATE

    June
    30, 2025  
    June
    30, 2024 

    For
    the years ended 

    June
    30, 2025  
    June
    30, 2024 
  
    Federal
    Statutory Rate 
     21% 
     21%
  
    State tax,
    net on income tax benefit 
     3.87% 
     3.87%
  
    Change
    in Valuation Allowance 
     -24.87% 
     -24.87%
  
    Effective
    Tax Rate 
     -  
     - 

We
account for income taxes using the asset and liability method. Deferred taxes are recorded based on differences between the financial
statement basis and tax basis of assets and liabilities and available tax loss and credit carryforwards.

    F