Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 637

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 637
---
 December 31,  2023 

    (In thousands) 
  
    Deferred tax assets: 

    Net Operating loss carry-forward 
    $1,667  
    $2,421 
  
    Add back: 

    Stock-based compensation 
     (24) 
     (46)
  
    Depreciation and amortization 
     (249) 
     (438)
  
    Impairment expense 
     —  
     (479)
  
    Bad debt 
     (48) 
     — 
  
    Gain on revaluation 
     —  
     — 
  
    Other income 
     2  
     3 
  
    Total deferred tax asset 
     1,348  
     1,461 
  
    Less: valuation allowance 
    $(1,348) 
    $(1,461)
  
    Deferred tax asset. net of valuation allowance 
     —  
     — 
  
    Deferred tax liabilities 
     —  
     — 
  
    Net deferred tax asset 
     —  
     — 

Income tax expense (benefit) was computed as follows:

    December 31,  
    December 31, 

    2024  
    2023 

    (In thousands) 
  
    Federal income tax 
    $—  
    $— 
  
    State income tax 
     12  
     35 
  
    Total Income expenses / (benefit) 
    $12  
    $35 

The Company’s effective tax rate is 0% for
the year ended December 31, 2024, and 0% and for the year ended December 31, 2023 The future effective income tax rate depends on various
factors, such as the Company’s income / (loss) before taxes, tax legislation and the geographic composition of pre-tax income.

The Company’s current tax expense is $0. There is no liability
in 2024 on account of losses.

The Company’s federal and state income tax
returns are generally subject to possible examination by the taxing authorities until the expiration of the related statute of limitations
on those tax returns which is generally three years from the original filing deadline. The Company regularly reviews its deferred tax
assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of