v3.25.3
Income Taxes (Tables)
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes
Our provision for income taxes consists of the following (in thousands):
Ten Months Ended October 31,
2024
Current:
State and local
$(486)
Income tax (expense)$(486)
Schedule of Reconciliation of Effective Tax Rate and the U.S. Federal Statutory Income Tax Rate
A reconciliation of our effective tax rate and the U.S. Federal statutory income tax rate is as follows:
 Year Ended September 30,Year Ended December 31,
 20252024
Taxes at statutory U.S. federal income tax rate— %21.00 %
Dividends paid deduction and net operating loss utilization— %(21.00)%
Federal taxes— %— %
State and local income taxes— %1.53 %
Effective tax rate— %1.53 %