Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 419

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 419
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|:-------------------------|-------:|:--|:----|-------:|:---|:----|:--|-------:|:--|:----|-------:|:---|
| Expense (Benefit) at the federal rate |     | $                        | (6,688 | ) |     |  28.82 | %  |     | $ | (1,383 | ) |     |  28.82 | %  |
| Increase (decrease) resulting from:   |     |                          |        |   |     |        |    |     |   |        |   |     |        |    |
| Other                                 |     |                          | 17,062 |   |     | (73.52 | )% |     |   |  1,056 |   |     | (22.01 | )% |
| Total income tax provision (benefit)  |     | $                        | 10,374 |   |     | (44.70 | )% |     | $ |   (327 | ) |     |   6.81 | %  |

At December 31, 2024 and 2023, the Company did not have any deferred tax assets or liabilities. The Company complies with the provisions of ASC 740 in accounting for its uncertain tax positions. ASC 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely that not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. At December 31, 2024 and 2023, the Company had no uncertain tax positions. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. The Company had no accruals for interest and penalties at December 31, 2024 and 2023. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. The statute of limitations for assessment by the Italian tax authorities remains open for the tax years December 31, 2021 through December 31, 2024 as the Company was incorporated in 2021. There are currently no income tax audits in progress. The resolution of tax matters is not expected to have a material effect on the Company’s financial statements.

F-