Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Taxes | |
| Income Taxes | Note 10 – Income Taxes For the six months ended June 30, 2026, we recorded an income tax expense of $1,053 on pre-tax loss of $(10,802) compared to an income tax expense of $12,941 on pre-tax loss of $(20,911) for the six months ended June 30, 2025. Our effective income tax rate was (9.7)% and (61.9)% for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026 the effective tax rate was lower than the statutory federal rate of 21%, for corporations, primarily due to a valuation allowance against US deferred tax assets and the jurisdictional mix of earnings and operating losses expected for the year. For the six months ended June 30, 2025 the effective tax rate was higher than the statutory federal rate of 21%, for corporations, primarily due to the recognition of a valuation allowance against the US deferred tax asset of $11,475 plus the jurisdictional mix of earnings and operating losses expected for the year.
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