Anebulo Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

The reconciliation of the U.S. federal statutory rate (21%) to the Company’s effective tax rate for the years ended June 30, 2022 and 2021 is as follows:

Schedule of Effective Income Tax Rate

	2022			2021
U.S. statutory federal income tax rate		21.0	%		21.0	%
Permanent differences		0.0	%		0.0	%
Fair Value Adjustment - Warrants		0.0	%		-18.5	%
Change in valuation allowance		-21.0	%		-2.5	%
Effective tax rate		0.0	%		0.0	%

Schedule of Deferred Tax Assets

The significant components of the Company’s deferred tax assets consist of the following at June 30, 2022 and 2021:

Schedule of Deferred Tax Assets

	2022		2021
	June 30,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	1,843,175	$	497,171
Other assets and liabilities		265,741		281,137
Stock- based compensation		120,576		19,644
Gross deferred tax assets		2,229,492		797,952
Valuation allowance	$	(2,229,492)	$	(797,952	)
Total deferred tax assets, net of valuation allowance		-		-