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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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

	December 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	3,294,955		$	3,013,721
Stock-based compensation		1,183,941			1,800,935
Research and development		1,499,300			—
Accrued compensation		244,848			109,673
Other		6,724			102,825
Total net deferred tax assets before valuation allowance		6,229,768			5,027,154
Valuation allowance		(6,229,768	)		(5,027,154	)
Net deferred tax asset	$	—		$	—

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

	December 31,
	2022			2021
Statutory federal income tax rate		21.0	%		21.0	%
State taxes, net of federal tax benefit		(7.7	)%		4.4	%
Stock-based compensation		(1.2	)%		(1.9	)%
Loss on extinguishment of debt		(1.5	)%		(3.9	)%
Other nondeductible expenses/(nontaxable income)		(3.0	)%		(2.8	)%
Change in valuation allowance		(7.6	)%		(16.8	)%
Income tax benefit		—	%		—	%