Note 15 - Income Taxes |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Text Block] |
Note 15—Income Taxes
The following table provides a summary of the Company's effective tax rate:
The reported tax rates for the three and six months ended June 30, 2026 decreased compared to the same period in 2025. The decrease is mainly from the effect of federal investment tax credit from community solar project that started its operation in the second quarter of 2026.
The Company determined an annual effective tax rate and applied that annual effective tax rate to the Company's taxable income for the year to date interim periods. The effective tax rate differs from the statutory tax rate primarily due to the effect of nondeductible employee compensation expenses such as meals, entertainment and fringe benefits which is offset by the federal investment tax credit on the activated community solar project. |
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