MAIA Biotechnology, Inc. Annual report pursuant to Section 13 and 15(d)

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		—	%		—	%