INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

The items accounting for the difference between income taxes at the effective Federal statutory rate of 21%, and the Company’s effective tax rate for the years ended December 31, 2024 and 2023 were as follows:

SCHEDULE OF EFFECTIVE OF INCOME TAXES

	Year Ended December 31, 2024			Year Ended December 31, 2023
Income tax benefit at U.S. statutory rate	$	(1,559,977	)	$	(1,326,077	)
Income tax benefit – State		(521,868	)		(315,732	)
Other permanent items		3,822			-
Tax return true-up		(727,235	)		-
Non-deductible expenses		-			983,499
Change in valuation allowance		2,805,258			658,360
Total provision for income tax	$	-		$	-

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The following is a summary of the components of deferred tax assets and liabilities as of December 31, 2024 and 2023:

Deferred Tax Asset:	December 31, 2024			December 31, 2023
Net operating loss carryforward	$	1,651,702		$	738,650
Depreciation		506			-
Amortization		54,689			-
Stock based compensation		1,700,823			-
Capitalized research and development		86,906			-
ROU liabilities		25,017			-
Accrued expenses		38,108			-
Other		11,912			-
Total deferred tax assets		3,569,663			738,650
Deferred tax liabilities:
ROU assets		(25,756	)		-
Total deferred tax liabilities		(25,756	)		-
Less: Valuation allowance		(3,543,907	)		(738,650	)

Net deferred tax asset	$	-		$	-

Safe Pro Group Inc. S-1