Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 294

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 294
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 whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which
those temporary differences become deductible. Due to the uncertainty of the Company’s ability to realize the benefit of the deferred
tax assets, the net deferred tax assets are fully offset by a valuation allowance at December 31, 2024 and 2023. The valuation allowance
for the year ending December 31, 2024 and 2023 was $47,011,175 and $35,566,934, respectively.

<div align='center'>F-61

Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023</div>

The reconciliation of federal statutory income tax rate to our effective income tax rate is as follows for the years ended December 31:

|                                          |     | 2024 |        |    |     | 2023 |        |    |
| Federal income tax at the Statutory Rate |     |      |  21.00 | %  |     |      |  21.00 | %  |
| Earnout-Share Liability                  |     |      |  (6.87 | )% |     |      |        |    |
| Permanent Items                          |     |      |  (1.26 | )% |     |      |  (0.21 | )% |
| Foreign                                  |     |      |   0.52 | %  |     |      |   7.80 | %  |
| State Taxes                              |     |      |   0.27 | %  |     |      |  24.10 | %  |
| Return to Provision                      |     |      |  (0.01 | )% |     |      |   0.09 | %  |
| Other                                    |     |      |   0.69 | %  |     |      |   6.79 | %  |
| Change in valuation allowance            |     |      | (14.34 | )% |     |      | (60.27 | )% |
| Total tax benefit                        |     |      |      - | %  |     |      |      - | %  |

As of December 31, 2024, the Company