INCOME TAXES |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES For the three months ended March 31, 2025 and 2024, the Company recorded a provision for income taxes (benefit) of $2,334,085 and $1,173,513, respectively. The effective tax rate is 30.2% for the three months ended March 31, 2025 primarily driven by the increase in net income. The effective rate for the three months ended March 31, 2024 was 1151.0% due to the impact of stock-based compensation expense deduction limited by the Internal Revenue Code (IRC) Section 162(m) and the impact of the VIEs. The Company did not have any unrecognized tax benefits relating to uncertain tax positions at March 31, 2025, and December 31, 2024, and did not recognize any interest or penalties related to uncertain tax positions at March 31, 2025, and December 31, 2024. The Company does not anticipate that changes in its unrecognized tax benefits will have a material impact on the consolidated statements of operations and comprehensive income (loss) during 2025.
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