Company: TGNT
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008363
Chunk: 100

Company: Totaligent, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 US federal income tax provision or benefit for the three and nine months ending September 30, 2025 and or the year ended December 31, 2024 as they incurred tax losses during both of these periods. When it is more likely than not, that a tax asset cannot be realized through future income, the Company must record an allowance against any future potential future tax benefit. The Company has provided a full valuation allowance against the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that the Company will not earn income sufficient to realize the deferred tax assets during the carry forward periods. The Company has not taken a tax position that, if challenged, would have a material effect on the unaudited consolidated financial statements for the three and nine months ended September 30, 2025 and 2024 as defined under ASC 740, "Accounting for Income Taxes." The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. 

 F-18Table of Contents

The sources and tax effects of the differences for the periods presented are as follows:   Three and Nine Months Ended    September 30,2025  September 30,2024 U.S. statutory federal income tax rate  21%  21%State income taxes, net of federal income tax   5%  5%Change in valuation allowance (26%)  (26%) Effective income tax rate  0%  0% A reconciliation of the income taxes computed at the statutory rate is as follows:   Three Months Ended   September 30,2025  September 30,2024        Tax credit (expense) at statutory rate (26%)  $30,528  $148,310 Increase in valuation allowance  (30,528 )  (148,310 )Net deferred income tax asset $—  $—    Nine Months Ended   September 30,2025  September 30,2024        Tax credit (expense) at statutory rate (26%)  $87,792  $217,026 Increase in valuation allowance  (87,792 )  (217,026 )Net deferred income tax asset $—  $—  At September 30, 2025 and December 31,