Company: ECIA
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001079973-25-001132
Chunk: 59

Company: ENCISION INC
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 59
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benefit) for income taxes
is summarized below:

    Schedule of income tax expense (benefit) 

    Years Ended 
    March
    31, 2025  
    March
    31, 2024 
  
    Current: 

    Federal 
    $
    —  
    $
    — 
  
    State 
    —  
    — 
  
    Total current 
     —  
     — 

    Deferred: 

    Federal 
     241,000  
     22,000 
  
    State 
     46,000  
     4,000 
  
    Total deferred 
     287,000  
     26,000 
  
    Valuation allowance 
     (287,000) 
     (26,000)

    Total 
    $—  
    $— 

The following is a reconciliation
between the effective rate and the federal statutory rate:

    Schedule of effective income tax rate reconciliation 

    Years Ended 
    March
    31, 2025  
    March
    31, 2024 
  
    Expected income tax rate 
    $(46,000) 
    $(145,000)
  
    State income taxes, net of federal tax 	benefit 
     (9,000) 
     (28,000)
  
    Other permanent differences 
     (16,000) 
     (10,000)
  
    Research credits 
     137,000  
     (8,000)
  
    Change in valuation allowance 
     (66,000) 
     191,000 
  
    Income tax expense 
    $—  
    $— 

The components of the net accumulated deferred income
tax asset (liability) are as follows: 

    Schedule of deferred income tax asset liability 

    Years Ended 
    March
    31, 2025  
    March
    31, 2024 
  
    Other deferred assets 
    $17,000  
    $16,000 
  
    Valuation allowance 
     (17,000) 
     (16,000)
  
    Current deferred tax assets 
     —  
     — 

    Credits and net operating loss  	carryforwards 
     2,296,000  
     2,616,000 
  
    Val