MAIA Biotechnology, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Deferred Tax Assets and Liabilities

The Company's net deferred tax assets consist of the following components:

	December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	3,013,721		$	1,418,873
Stock-based compensation		1,800,935			1,132,473
Deferred compensation		31,718			156,717
Accrued bonus		109,673			222,339
Other		71,107			—
Total net deferred tax assets before valuation allowance		5,027,154			2,930,402
Valuation allowance		(5,027,154	)		(2,930,402	)
Net deferred tax asset	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

The income tax expense (benefit) differs from the expense (benefit) that would result from applying federal statutory rates to loss before income taxes as follows:

	December 31,
	2021			2020
Statutory federal income tax rate		21.0	%		21.0	%
State taxes, net of federal tax benefit		4.4	%		6.5	%
Stock-based compensation		(1.9	)%		(2.6	)%
Loss on extinguishment of debt		(3.9	)%	— %
Other nondeductible expenses/(nontaxable income)		(2.8	)%		0.2	%
Change in valuation allowance		(16.8	)%		(25.1	)%
Income tax benefit	— %			— %