Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 880

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 8
Chunk 880
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 of $9.4
million and $3.3
million,
respectively, and state net operating loss carryforwards of $6.9
million
and $3.4
million,
respectively. These state operating loss carryforwards begin to expire in 2045. The federal net operating loss carryforward will carryforward
indefinitely, but is subject to the 80% taxable income limitation.

The
Company files income tax returns in the United States, and various state and foreign jurisdictions. The federal, state and foreign income
tax returns are subject to tax examinations for the tax years 2020 through 2024 as of year ended June 30, 2025. To the extent
the Company has tax attribute carry forwards, the tax years in which the attribute was generated may still be adjusted upon examination
by the U.S. Internal Revenue Service, state or foreign tax authorities to the extent utilized in a future period. There were no ongoing
examinations by taxing authorities as of June 30, 2025.

The
Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of June 30, 2025 and 2024, the
Company accrued and recognized as a liability zero and $0.1 million, respectively, of interest and related penalties to uncertain tax
positions.

Congress enacted the One Big Beautiful Bill Act
(“OBBBA”), which was signed into law on July 4, 2025. This law changes or makes permanent certain tax laws for corporations,
including provisions relating to domestic research and development costs, bonus depreciation and foreign derived intangible income. Management
is currently evaluating the potential impact of these provisions on deferred taxes and future tax obligations.

NOTE
14. COMMITMENTS AND CONTINGENCIES

Lease
Commitments

    F-23

The
Company leases various facilities and offices in the US, UK, Canada and New Zealand with varying lease terms.

For
each of the years ended June 30, 2025 and 2024, the combined operating lease costs of the Company totaled $0.9 million and are recorded
in general and administrative expense in the Consolidated Statements of Operations.

Future
minimum consolidated lease payments for the Company are as follows (in thousands):

 SCHEDULE OF FUTURE MINIMUM CONSOLIDATED LEASE PAYMENTS

    Year Ended June 30, 
    Lease Amount  
    Finance Lease 
  
    2026 
    $587