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

INCOME TAX (Tables)

v3.23.1
INCOME TAX (Tables)
11 Months Ended 12 Months Ended
Dec. 02, 2021
Dec. 31, 2022
Schedule of net deferred tax assets  

December 31, 

2022

    

2021

Deferred tax assets:

 

 

Investment in P3 LLC

$

20,684

$

Net operating loss carryforwards

 

17,601

 

6,922

Accrued liabilities

2,764

3,307

Goodwill and identifiable intangible assets

589

Section 163j interest limitation

 

1,995

 

1,232

Other deferred tax assets

 

94

 

3

Total deferred tax assets

 

43,727

 

11,464

Less: valuation allowance

 

(43,558)

 

(9,621)

Net deferred tax assets

 

169

 

1,843

Deferred tax liabilities:

 

 

Other deferred tax liabilities

(150)

(87)

Operating lease, right-of-use assets

(19)

Goodwill and identifiable intangible assets

 

 

(1,756)

Total deferred tax liabilities

 

(169)

 

(1,843)

Net deferred tax asset

$

$

Schedule of income tax provision (benefit)  

Successor

Predecessor

Year Ended

December 3, 2021

January 1, 2021

    

December 31,

  

through December 31,

through December 2,

    

2022

    

2021

  

  

2021

Current income taxes:

Federal

$

111

$

$

State

1,751

Total current income taxes

$

1,862

$

$

Deferred income taxes:

Federal

State

Total deferred income taxes

Total income tax expense

$

1,862

$

$

Schedule of reconciliation of federal statutory income tax rate  

    

Successor

Predecessor

Year Ended

December 3, 2021

January 1, 2021

December 31,

through December 31,

through December 2,

2022

  

2021

  

  

2021

Tax at federal statutory rate

$

(327,536)

$

(12,166)

$

(30,744)

Non-controlling interest and nontaxable income

 

260,020

 

8,359

 

30,744

Change in valuation allowance

 

33,961

 

2,832

 

Investment in P3 LLC

 

35,147

 

1,550

 

Other reconciling items

270

(575)

Total

$

1,862

$

$

Effective tax rate

 

(0.1)

%  

 

%

 

%

Foresight Acquisition Corp    
Schedule of net deferred tax assets

December 2, 

December 31, 

    

2021

    

2020

Deferred tax assets

 

  

 

  

Net operating loss carryforward

$

38,800

$

480

Startup/Organization Expenses

 

4,728,629

 

Total deferred tax assets, net

 

4,767,429

 

480

Valuation Allowance

 

(4,767,429)

 

(480)

Deferred tax assets, net of valuation allowance

$

$

 
Schedule of income tax provision (benefit)

For the period from

For the period from

 

January 1, 2021 through

 

August 20, 2020 (inception)

 

December 2,

 

through December 31,

    

2021

    

2020

Federal

 

  

 

  

Current

$

$

Deferred benefit

 

(4,773,438)

 

(480)

State and Local

 

  

 

  

Current

 

 

Deferred

 

 

Change in valuation allowance

 

4,773,438

 

480

Income tax provision

$

$

 
Schedule of reconciliation of federal statutory income tax rate

December 2, 

December 31, 

 

    

2021

    

2020

Statutory federal income tax rate

 

21.00

%  

21.00

%

State taxes, net of federal tax benefit

 

0.00

%  

0.00

%

Change in fair value of warrant liabilities

 

(1.76)

%  

0.00

%

Transaction costs incurred in connection with IPO

 

0.00

%  

0.00

%

Fair value of warrant liability in excess of proceeds from Private Placement

 

0.00

%  

0.00

%

Change in valuation allowance

 

(19.24)

%  

(21.00)

%

Income tax provision

 

0.00

%  

0.00

%