Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 73

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 seven, and 25 percent
in year eight).

i) The components of the income tax provision (benefit)
were as follows:

SCHEDULE OF INCOME TAX BENEFIT 

    For the nine months ended March 31,   
    For the three months ended March 31, 

    2025  
    2024  
    2025  
    2024 
  
    Current income tax provision (benefit) 
    $36,814  
    $5,744  
    $(11,869) 
    $5,744 
  
    Deferred income tax provision (benefit) 
     (875,456) 
     (465,783) 
     (291,347) 
     492,145 
  
    Total income tax provision (benefit) 
     (838,642) 
     (460,039) 
     (303,216) 
     497,889 
  
    Less: income tax provision (benefit), held for discontinued operations 
     650,788  
     307,393  
     241,046  
     (549,781)
  
    Income tax benefit, held for continuing operations 
    $(187,854) 
    $(152,646) 
    $(62,170) 
    $(51,892)

ii) The components of the deferred tax liability
were as follows:

 SCHEDULE OF FINANCIAL BASIS AND TAX BASIS OF ASSETS AND LIABILITIES

    March 31, 2025  
    June 30, 2024 
  
    Deferred tax assets: 

    Allowance for credit loss/doubtful accounts 
    $1,674,480  
    $352,077 
  
    Inventory reserve 
     -  
     1,522 
  
    Net operating loss carry-forwards 
     2,827,814  
     1,187,887 
  
    Total 
     4,502,294  
     1,541,486 
  
    Valuation allowance 
     (4,026,576) 
     (1,110,668)
  
    Total deferred tax assets 
     475,718  
     430,818 
  
    Deferred tax liability: 

    Intangible assets 
     (9,435,301) 
     (10,266