INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | NOTE 7 – INCOME TAXES
For the three months ended June 30, 2026, the Company recognized expense from income taxes of $136,617, representing an effective tax rate of 29.5%. For the six months ended June 30, 2026, the Company recognized expense from income taxes of $210,819, representing an effective tax rate of 28.8%. The Company’s effective tax rate will generally differ from the U.S. Federal statutory rate of 21.0% due to state taxes, permanent items, and discrete items. For the three months ended June 30, 2025, the Company recognized expense from income taxes of $258,768. For the six months ended June 30, 2025, the Company recognized expense from income taxes of $372,746.
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act, which includes a broad range of tax reform provisions affecting businesses, including extending and modifying certain key Tax Cuts & Jobs Act provisions, expanding certain Inflation Reduction Act incentives while accelerating the phase-out of others, and modifying the endowment excise tax for higher education institutions. The Company is currently evaluating the impact of this new bill but does not believe it will have a material impact. |