Company: IWSH
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001214659-25-004885
Chunk: 75

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 75
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 the statutory rate and the reported amount of tax benefit from operations is as follows:

    Year ended December 31, 

    2024  
    2023 
  
    Federal income tax rate 
     (21.0)% 
     (21.0)%
  
    State income tax (net of federal effect) 
     (4.8) 
     7.1 
  
    Change in valuation allowance 
     24.4  
     (36.2)
  
    Deferred tax adjustment 
     -  
     50.0 
  
    Non-deductible expenses / (non-taxable income) 
     1.4  
     0.1 
  
    Effective tax rate 
     -% 
     -%

 20 

WRIGHT INVESTORS’ SERVICE HOLDINGS, INC.

Notes to Consolidated Financial Statements

December 31, 2024

The deferred tax assets and liabilities are summarized as follows (in
thousands):

    Year ended December 31, 

    2024  
    2023 
  
    Deferred tax assets: 

    Net operating loss carryforwards 
    $5,530  
    $5,301 
  
    Unrealized loss on investments 
     93  
     87 
  
    Other 
     3  
     3 
  
    Gross deferred tax assets 
     5,626  
     5,391 
  
    Less: valuation allowance 
     (5,626) 
     (5,391)
  
    Deferred tax assets after valuation allowance 
     -  
     - 

    Net deferred tax assets 
    $-  
     - 

A valuation allowance is provided when it is more likely than not that
some portion of deferred tax assets will not be realized. The valuation allowance increased by approximately $235,000 and had decreased
by approximately $366,000 during the years ended December 31, 2024 and 2023, respectively. The increase in the valuation allowance
during the year ended December 31, 2024 was mainly due to increases in the net operating loss carryforward. The decrease in the valuation
allowance during the year ended December 31, 2023 was mainly attributable to decreases in the gross deferred tax asset related to the
expiration of a capital loss carryforward, net of increases in the net operating