Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 39

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 12
Chunk 39
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			Foreign

			1,841 

			1,509

			Total current

			$ 

			1,733 

			$

			14,361

			Deferred:

			Federal

			$

			-

			$

			-

			State

			-

			-

			Foreign

			- 

			-

			Total deferred

			$ 

			- 

			$

			-

			Total income tax expense

			$

			1,733

			$

			14,361

F-20

A reconciliation between the Company’s actual provision for income taxes and the provision at the United States statutory rate is as follow:

			For the year ended

			December 31, 

			2024

			For the year ended

			December 31, 

			2023

			Loss before income tax expense  

			$

			(4,378,142

			)

			$

			(7,118,212

			)

			Computed tax benefit with statutory tax rate

			29.84

			%

			29.84

			%

			Income tax expense computed at statutory income tax rate

			(1,306,437

			)

			(2,124,074

			)

			Impact of different tax rates in other jurisdictions

			1,115,557 

			1,935,475 

			Tax effect of non-deductible expenses

			192,615

			202,961

			Total income tax expense

			$

			1,733

			$

			14,361

The effective tax rate were (0.04%) and (0.2%) for the years ended December 31, 2024 and 2023, respectively.

Uncertain tax positions

The Company did not have any uncertain tax positions during the years ended December 31, 2024 and 2023.

The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by the respective jurisdictions, where applicable. The statute of limitations for the tax returns varies by jurisdictions.

F-21

The amounts of uncertain tax liabilities listed above are based on the recognition and measurement criteria of ASC Topic 740, and