Acurx 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

Dec. 31, 2021

Schedule of components of net deferred income tax asset

The components of the net deferred income tax asset at December 31, 2021 are as follows:


	2021
Deferred tax assets:
Net operating loss carryforwards	$	1,594,650
Share‑based compensation		1,149,720
Research and development credit carryforwards		105,881
Gross deferred tax assets		2,850,251
Less valuation allowance		(2,850,251)
Net deferred tax asset	$	—

Summary of reconciliation of income tax expense (benefit) at the statutory Federal income tax rate and income taxes as reflected in the financial statements

A reconciliation of income tax expense (benefit) at the statutory Federal income tax rate and income taxes as reflected in the financial statements for both years ended December 31, 2021 is as follows:


Federal income tax expense at statutory rate	21.0	%
State income tax, net of federal benefit	5.1
Permanent differences	—
Research and development tax credit	1.0
Change in valuation allowance	(27.1)
Effective income tax rate	—	%