INCOME TAX |
6 Months Ended |
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Jun. 30, 2026 | |
| INCOME TAX | |
| INCOME TAX | NOTE 8 – INCOME TAX The Company recorded income tax expense of $331,944 for the three months ended June 30, 2026, compared to $39,170 for the three months ended June 30, 2025. The effective tax rate for the three months ended June 30, 2026 and 2025 was 15.37% and 1.18%, respectively. The Company recorded income tax expense of $353,678 for the six months ended June 30, 2026, compared to $47,510 for the six months ended June 30, 2025. The effective tax rate for the six months ended June 30, 2026 and 2025 was (6.56)% and 0.94%, 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, 2026. As of June 30, 2026 and 2025, 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 has gross unrecognized tax benefits of $0, of which $0 would affect the effective tax rate if recognized. The Company remains subject to examination in various jurisdictions. As of June 30, 2026, open tax years include federal 2021–2024 and California 2020–2024.
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