Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 259

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 259
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 Valuation allowances are established, when necessary, to reduce
deferred tax assets to the amount expected to be realized.

A summary of the Company’s current and deferred
tax provision is as follows:

    For the years ended 

    December 31, 

    2024  
    2023*

    Deferred tax assets 

    Net operating loss carryforwards  
    $1,095,484  
    $355,574 
  
    Other temporary differences  
     -  
     - 
  
    Total deferred tax assets  
     1,095,484  
     355,574 
  
    Less: Valuation allowance  
     (1,095,484) 
     (355,574)
  
    Net deferred tax assets  
    $-  
    $- 

  * The deferred tax assets were deemed to be de minimis as of December 31, 2023. 

The income tax provision for the years ended December
31, 2024 and 2023 consists of the following:

    For the years ended 

    December 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