Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 157

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 157
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 Federal  |     |                    |   158,300 |   |     |   | 236,200 |
| State    |     |                    |    36,300 |   |     |   | 115,700 |
| City     |     |                    |    21,500 |   |     |   |  96,900 |
| Foreign  |     |                    |   (40,007 | ) |     |   |       - |
| Total    |     | $                  | 1,182,933 |   |     | $ | 821,896 |

The provision for income taxes is based on the following pretax income
(loss):

|        |     | For the Year Ended 
 March 31,          |      2024 |   |     |   |      2023 |
|:-------|:----|:-------------------|----------:|:--|:----|:--|----------:|
| U.S.   |     | $                  | 3,275,797 |   |     | $ | 2,200,467 |
| Canada |     |                    |  (197,642 | ) |     |   |         - |
| Total  |     | $                  | 3,078,155 |   |     | $ | 2,200,467 |

For the year ended March 31, 2024, the total pre-tax
income was $ million, which included $ million pre-tax income in U.S. and $ million pre-tax loss in Canada. For the year ended
March 31 2023, the total pre-tax income was $ million all of which was generated in the U.S.

The following table reconciles to the Company’s effective tax
rate:

|                                                          |     | For the Year Ended 
 March 31,          |      2024 |    |     |   |      2023 |    |
|:---------------------------------------------------------|:----|:-------------------|----------:|:---|:----|:--|----------:|:---|
| Pre-tax book income                                      |     | $                  | 3,078,155 |    |     | $ | 2,200,467 |    |
| Federal Statutory rate                                   |     |                    |      21.0 | %  |     |   |      21.0 | %  |
| State income tax rate, net of federal income tax benefit |