Company: LDDD
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013782
Chunk: 202

Company: Longduoduo Co Ltd
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 8
Chunk 202
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 the Six Months Ended December 31, 

    2024  
    2023 
  
    Income tax (benefit) at USA statutory rate 
     (21)% 
     (21)%
  
    U.S. valuation allowance 
     21% 
     21%
  
    Income tax (benefit) at USA effective rate 
     (0)% 
     (0)%

The difference between the PRC statutory income tax rate and the PRC
effective tax rate was as follows:

    For the Six Months Ended December 31, 

    2024  
    2023 
  
    Income tax (benefit) at PRC statutory rate 
     25% 
     25%
  
    Utilization of net operating loss carry forward 
     (7)% 
     (1)%
  
    PRC valuation allowance 
     -% 
     4%
  
    Other 
     (2)% 
     (2)%
  
    Income tax (benefit) at PRC effective rate 
     16% 
     26%

The Company did not recognize deferred tax assets
since it is not more likely than not that it will realize such deferred taxes. The deferred tax would apply to Longduoduo in the U.S.
and Longduoduo Health Technology and subsidiaries in China.

As of December
31, 2024, Longduoduo Health Technology and its subsidiaries have total net operating loss carry forwards of approximately $314,133 in
the PRC that expire through 2029. Due to the uncertainty of utilizing these carry forwards, the Company provided a 100% allowance
on all deferred tax assets of approximately $13,928 and $9,696 related to its operations in the PRC as of December
31, 2024 and June 30, 2024, respectively. The PRC valuation allowance has increased by $0 and decreased by $30,559 for
the six months ended December 31, 2024 and 2023,
respectively.

The Company incurred losses from its United
States operations during the six months ended December 31, 2024 of approximately
$138,500. The Company’s United States operations consist solely of ownership of its foreign subsidiaries, and the losses arise
from administration expenses. Accordingly, management provided a 100% valuation allowance of approximately $242,521 and
$213,436