Solid Power, Inc. - POS AM filing on 2022-04-01

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Schedule of income taxes


		December 31,
		2021			2020
Current income tax (benefit)/expense:
Federal		$	—		$	—
State			—			—
Deferred income tax (benefit)/expense:
Federal			(22)			96
State			(3)			22
Total income tax (benefit)/expense			(25)			118

Schedule of reconciliation of the statutory federal income tax expense to income tax


		December 31,
		2021			2020
Income tax expense at the federal statutory rate			21.00	%	21.00	%
State income taxes - net of federal income tax benefits			(5.97)	%	2.96	%
Permanent Differences			0.25	%	1.08	%
Permanent Differences – Related to Convertible Debt			0.31	%	(5.04)	%
Permanent Differences – Fair Value Adjustments			(56.44)	%	0.00	%
Prior year provision to return			(0.03)	%	(0.03)	%
Net change in valuation allowance			40.73	%	(20.81)	%
Other			0.01	%	0.00	%
Total income tax (benefit)			(0.14)	%	(0.84)	%

Schedule of tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities


		December 31,
		2021			2020
Deferred tax assets:
Net operating loss		$	15,591		$	7,349
Stock compensation			417			1
Other			49			19
Total income tax expense (benefit)			16,057			7,369
Valuation allowance			(14,536)			(6,190)
Net deferred tax assets:			1,521			1,179
Deferred tax liabilities:
Intangibles (non-goodwill)		$	—		$	(2)
Property and equipment			(1,747)			(1,429)
Total deferred tax liabilities			(1,747)			(1,431)
Total net deferred tax liability		$	(226)		$	(252)