Company: AIRJW
Filing Date: 2025-05-27
Form Type: POS AM
Source: 0001213900-25-047828
Chunk: 233

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-27
Form: POS AM
Chunk 233
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) designee, subject to the approval of the Company, for election to the board of directors for so long as Carrier satisfies certain investment conditions, following the Business Combination. Pursuant to the terms of the agreement, Carrier has nominated its director.

Note 14 — INCOME TAX

The Company recorded an income tax expense in
the year ended December 31, 2024. In the year ended December 31, 2024, the difference between the statutory tax rate and the
Company’s effective tax rate was due primarily to the change in tax status of the entity.

The reconciliation of the statutory federal
income tax rate to the Company’s effective tax rate for the year ended December 31, 2024 was as follows:

|                                                                          |     | Year Ended   
 December 31, 
 2024         |      |    |
|:-------------------------------------------------------------------------|:----|:-------------|-----:|:---|
| U.S. federal statutory rate                                              |     |              | 21.0 | %  |
| Increase (decrease) due to:                                              |     |              |      |    |
| State income taxes, net of federal income tax benefit                    |     |              |  5.6 | %  |
| Change in fair value of Earnout, True-up and Subject Vesting liabilities |     |              | (2.2 | )% |
| Costs related to Business Combination                                    |     |              |  3.7 | %  |
| Other permanent adjustments                                              |     |              | (0.7 | )% |
| Effective tax rate                                                       |     |              | 27.4 | %  |

F-68 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 14 — INCOME TAX(cont.)

A reconciliation of the expected income tax expense
(benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the
year ended December 31, 2024:

|                                                                          |     | Year Ended   
 December 31, 
 2024         |            |   |
|:-------------------------------------------------------------------------|:----|:-------------|-----------:|:--|
| Income tax expense computed at federal statutory tax rate                |     | $            | 62,359,838 |   |
| Increase (decrease) due to:                                              |     |              |            |   |
| State income taxes, net of federal income tax benefit