TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Company's Net Deferred Tax Assets

The Company’s net deferred tax assets are as follows:

	December 31, 2023			December 31, 2022
Deferred tax assets:
Net operating losses	$	—		$	—
Legal settlement		4,562,100			—
Start-up costs		8,716,458			5,190,046
Total deferred tax assets		13,278,558			5,190,046
Valuation Allowance		(13,278,558	)		(5,190,046	)
Deferred tax asset, net of allowance	$	—		$	—

Summary of Income Tax Provision

Below is breakdown of the income tax provision.

	For the Year Ended December 31, 2023			For the Year Ended December 31, 2022
Federal
Current	$	(3,742,611	)	$	(3,078,967	)
Deferred		—			—
State and local Current		(796,963	)		(637,053	)
Deferred		—			—
Change in valuation allowance		8,088,176			4,695,494
Income tax provision	$	3,548,602		$	979,475

Summary of Reconciliation of Federal Income Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:

	For the Year Ended December 31, 2023			For the Year Ended December 31, 2022
Federal income taxes at 21.00%		21.00	%		21.00	%
State tax, net of Federal benefit		4.35	%		4.35	%
Change in valuation allowance		(44.10	)%		(32.03	)%
Other		(0.60	)%		—	%
Provision for income tax		(19.35	)%		(6.68	)%