INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES For the three months ended June 30, 2026 and 2025, the Company recorded a provision for income taxes of $4,348,850 and $4,069,971, respectively. The effective tax rate is 39.6% for the three months ended June 30, 2026 primarily driven by the impact of various permanent differences with the larger of these permanent differences being related to compensation related expenses partially offset by decrease in statutory tax provision due to an increase in taxable income. The effective rate for the three months ended June 30, 2025 was 18.8% primarily driven by the increase in taxable income. For the six months ended June 30, 2026 and 2025, the Company recorded a provision for income taxes of $8,139,664 and $6,404,056, respectively. The effective tax rate is 36.9% for the six months ended June 30, 2026 primarily driven by the impact of various permanent differences with the larger of these permanent differences being related to compensation related expenses partially offset by decrease in statutory tax provision due to an increase in taxable income. The effective rate for the six months ended June 30, 2025 was 21.8% primarily driven by the increase in taxable income. The Company did not have any unrecognized tax benefits relating to uncertain tax positions as of June 30, 2026, and December 31, 2025, and did not recognize any interest or penalties related to uncertain tax positions as of June 30, 2026, and December 31, 2025. The Company does not anticipate that changes in its unrecognized tax benefits will have a material impact on the consolidated statements of operations and comprehensive income during 2026.
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