Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 1137

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1137
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 liabilities. The Tax Act did not give rise to any material impact on the consolidated balance sheets and consolidated statements of operations due to our historical loss position and the full valuation allowance on our net U.S. deferred tax assets.

 F-24Table of Contents

The reconciliation of taxes at the federal and state statutory rate to our provision for income taxes for the years ended December 31, 2024 and 2023 was as follows:   For the Year Ended    December 31,  December 31,   2024  2023        Income (Loss) before income tax $(4,476,762) $(3,402,592)US statutory corporate income tax rate  28%  28%Income tax expense computed at US statutory corporate income tax rate  (1,253,493)  (952,726)Reconciling items:        Change in valuation allowance on deferred tax assets  1,152,938   2,121,778 Provision to prior year tax return  68,437   (1,188,884)Meals and Entertainment  2,330   3,347 Other  29,788   16,485 Income tax expense (benefit) $-  $-  Components of our deferred income tax assets (liabilities) are as follows:   December 31,  December 31,   2024  2023 Deferred tax assets:             Reserve for Credit Loss $624,000  $418,000 Inventory Reserve  308,000   27,000 Accrued Vacation  78,000   53,000 Warranty Reserve  8,000   8,000 Intangible Assets  98,000   181,000 Allowance for Sales Returns  64,000   - Capitalized R&D  175,000   148,000 Stock-Based Compensation  1,278,000   1,246,000 Operating lease right-of-use liabilities  180,000   212,000 Net operating losses  6,100,000   5,568,000 Valuation Allowance  (8,678,000)  (7,539,000)Deferred Tax Assets  235,000   322,000          Deferred