Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1435

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1435
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NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Income Taxes

The Company follows the asset and liability
method of accounting for income taxes under FASB ASC 740, “Income Taxes” (“ASC 740”). Deferred tax assets
and liabilities are recognized for the estimated future tax consequences attributable to difference between the consolidated
financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is
recognized in income in the period that included the enactment date. 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