Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 94

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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 for the three and nine months ended September 30, 2025 and 2024, consists of the following:

    Three Months Ended  
    Nine Months Ended 

    September 30,  
    September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Federal 

    Current 
    $2,150  
    $1,280  
    $6,210  
    $19,400 
  
    Deferred 
     (9,524) 
     (10,583) 
     (29,667) 
     (31,099)
  
    State 

    Current 
     —  
     360  
     —  
     2,591 
  
    Deferred 
     —  
     —  
     —  
     — 
  
    Change in valuation allowance 
     9,524  
     10,583  
     29,667  
     31,099 
  
    Income tax provision 
    $2,150  
    $1,640  
    $6,210  
    $21,991 

14

PMV
CONSUMER ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

NOTE
6. INCOME TAX (CONT.)

A
reconciliation of the income tax rate to the Company’s effective tax rate for the nine months ended September 30, 2025 and 2024,
is as follows:

    For the Nine Months Ended September
    30, 

    2025  
    2024 
  
    Statutory federal income tax rate 
     21.0% 
     21.0%
  
    State taxes, net of federal tax benefit 
     0.0% 
     (2.0)%
  
    Permanent book/tax differences 
     30.7% 
     (12.0)%
  
    Change in valuation allowance 
     (65.4)% 
     (24.0)%
  
    Effective income tax rate 
     (13.7)% 
     (17.0)%

NOTE
7. FAIR VALUE MEASUREMENTS

The
fair value of the