Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2172

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 2172
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 December 31, 

    2025 
    $9,490 
  
    2026 
     7,910 
  
    2027 
     13 
  
    2028 
     13 
  
    2029 
     13 
  
    Thereafter 
     181 
  
    Total 
    $17,620 

  6. Income Taxes

Income
tax expense (benefit) for each of the years ended December 31 consists of the following:

 Schedule of Income Tax Expense

    (Dollars in thousands) 
    2024  
    2023 

    Federal 
    $—  
    $— 
  
    State 
     35  
     40 
  
    Deferred 
     (2,522) 
     (1,107)
  
    Total 
    $(2,487) 
    $(1,067)

Deferred
income tax expense (benefit) from operations for each of the years ended December 31 consists of the following:

 Schedule of Deferred Income Tax Expense

    (Dollars in thousands) 
    2024  
    2023 

    Deferred tax expense (benefit) 
    $4,006  
    $2,566 
  
    Net operating loss carry forward 
     (8,192) 
     (9,813)
  
    Valuation allowance 
     1,664  
     6,140 
  
    Deferred
    tax benefit (expense)  
    $(2,522) 
    $(1,107)

The
Company’s effective income tax rate from operations differed from the Federal statutory rate for each of the years ended December
31 as follows:

 Schedule of Effective Income Tax Rate

    2024  
    2023 
  
    Federal statutory tax rate 
     21% 
     21%
  
    Change in valuation allowance 
     (3) 
     (15)
  
    State taxes, net of federal benefit 
     —  
     — 
  
    Cancellation of debt 
     (9) 
     —  
  
    Expiration of stock option 
     —  
     (1)
  
    Loss on extinguishment of debt 
     (2) 
     (1)
  
    Other deferred Adjustments 
     (3) 
     (1