Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 769

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1C
Chunk 769
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 31, 

    2024  
    2023* 

    Current  
    $295,728  
    $540,811 
  
    Deferred  
     739,910  
     342,447 
  
    Change in valuation allowance  
     (739,910) 
     (342,447)
  
    Income tax provision  
    $295,728  
    $540,811 

A reconciliation of the U.S. federal statutory
income tax rate to the Company’s effective income tax rate is as follows:

    For the years ended 

    December 31, 

    2024  
    2023 

    Income tax expense: 

    Provision/(benefit) at statutory rate 
     21.0% 
     21.0%
  
    State tax provision/(benefit) net of federal benefit 
     0.0% 
     0.0%
  
    Deferred provision/(benefit) 
     0.0% 
     0.0%
  
    Change in fair value of warrants 
     0.0% 
     0.0%
  
    Change in valuation allowance 
     35.0% 
     36.2%
  
    Total income tax expense 
     -14.0% 
     57.2%

ASC 740 prescribes a recognition threshold
and a measurement attribute for the consolidated financial statements recognition and measurement of tax positions taken or expected
to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon
examination by taxing authorities. There were no unrecognized tax benefits as of December 31, 2024 and 2023. The Company
recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for
the payment interest and penalties for the years ended December 31, 2024 and 2023. The Company is currently not aware of
any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has
been subject to income tax examinations by major taxing authorities since inception. The Company’s management does not expect
that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Offering Costs Associated with the Initial Public Offering 

The Company complies with the requirements of
ASC