Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 2867

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 2867
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, and credits, limited the ability of U.S. corporations to deduct interest expense, and transitioned to a territorial tax system which allows for the repatriation of foreign earnings to the U.S. with a 100% federal dividends received deduction prospectively. In addition, the Tax Act required a one-time transitional tax on foreign cash equivalents and previously unremitted earnings. Several of the new provisions enacted as part of the Tax Act require clarification and guidance from the IRS and Treasury Department. The Treasury Department, the IRS, and other standard-setting bodies will continue to interpret or issue guidance on how provisions of the Tax Act will be applied or otherwise administered. As future guidance is issued, we may make adjustments to amounts that we have previously recorded that may materially impact our financial statements in the period in which the adjustments are made. Additionally, further guidance may be forthcoming from the Financial Accounting Standards Board (“FASB”) and SEC, as well as regulations, interpretations and rulings from state tax agencies, which could result in additional impacts, possibly with retroactive effect. Any such changes or potential additional impacts could adversely affect our business and financial condition. These or other changes in U.S. tax laws could impact our profits, effective tax rate, and cash flows.

In addition, we may periodically restructure our legal entities and/or engage in mergers, and if taxing authorities were to disagree with our tax positions in connection with any such restructurings or mergers, our effective tax rate may be materially affected. In connection with such restructurings, we may also incur additional charges associated with consulting fees and other charges. 

In addition, changes in tax interpretations and changes in tax regulations and legislation may impose significant burdens upon our management’s time and resources, and may require us to expend significant additional amounts on accounting, tax, legal and other matters. 

All of the foregoing risks may materially adversely affect our Company and the trading price of our common stock.

We are adversely affected by regulatory uncertainties

Regulatory uncertainties regarding Cannabis Companies, and potential adverse changes in federal and state laws and government regulations, materially adversely affect our business and the trading price of our common stock. This risk is especially important relative to the hemp-derived, marijuana, psychoactive products and nicotine products industries, which are controversial socially, scientifically and legally. The foregoing risk may materially adversely affect our Company and the trading price of our common stock.

Legislative or regulatory changes that affect our products, including new taxes, could reduce demand for products or increase our costs

Taxes imposed on