INCOME TAX |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| INCOME TAX | |
| INCOME TAX | NOTE 9 – INCOME TAX The Company recorded income tax expense of $47,510 for the six months ended June 30, 2025, compared to $81,918 for the six months ended June 30, 2024. The effective tax rate for the three months ended March 31, 2025 and 2024 was 0.95% and (0.12)%, respectively. The Company’s effective tax rate for interim periods is based on the estimated annual effective tax rate, adjusted for discrete items occurring within the quarter. The Company continues to assess its valuation allowance position on deferred tax assets and determined that no material changes were necessary as of June 30, 2025. As of June 30, 2025 and 2024, the Company has no gross unrecognized tax benefits that would affect the effective tax rate. The Company does not anticipate significant changes in unrecognized tax benefits within the next 12 months. The Company remains subject to examination in various jurisdictions. As of June 30, 2025, open tax years include federal 2021–2024 and California 2020–2024.
|