Company: CERO
Filing Date: 2025-07-21
Form Type: S-1
Source: 0001213900-25-066152
Chunk: 395

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-07-21
Form: S-1
Chunk 395
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 taxable income for tax years beginning after 2021. The Company has state net operating loss carryforwards of approximately
$ that will begin to expire in 2036.

Under the Tax Reform Act
of 1986, the amount of and benefits from net operating loss carry forwards may be impaired or limited in certain circumstances. Events
which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited
to, a cumulative ownership change of more than %, as defined, over a three-year period. The impact of any limitations that may be imposed
due to such ownership changes has not been determined.

As of December 31, 2024,
the Company has research credit carry forwards of approximately $ and $ for federal and state tax purposes, respectively.
If not utilized, the federal carryforward will expire in various amounts beginning in 2040. The California credits can be carried forward
indefinitely. The Company has not undertaken a detailed analysis of all amounts claimed as research credits for federal or state tax purposes.
As a result, amounts ultimately realized for research credits were included in management’s consideration of uncertain tax benefits.

As of December 31, 2024 and
2023, the Company had an unrecognized tax benefit balance of approximately $ and $, respectively, related to R&D credits.

No amount of unrecognized
tax benefits as of December 31, 2024 and 2023, if recognized, would reduce the Company’s effective tax rate because the benefits
would be in the form of tax credit carryforwards, which would attract a full valuation allowance. There are no provisions for which it
is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of
the reporting date. Because the statute of limitations does not expire until after the net operating loss and credit carryforwards are
actually used, the statutes are still open on calendar years ended 2016 and 2017 forward for federal and state purposes.

The Company did not recognize
any expense for interest and penalties related to uncertain tax positions during 2024 and 2023, and the Company does not have any amounts
related to interest and penalties accrued as of December 31, 2024 and 2023.

The Company files U.S. federal
and state tax returns. The Company’s tax years will remain open for examination by the federal and state authorities for three and
four years, respectively, from the date of utilization of any