INCOME TAXES |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| INCOME TAXES | NOTE 19 – INCOME TAXES
The effective tax rate for the three months ended June 30, 2026 differed from the Federal statutory rate primarily due to state and local income taxes, non-deductible executive compensation, and a current year benefit related to a decrease in the valuation allowance. The effective tax rate for the three months ended June 30, 2025 differed from the Federal statutory rate primarily due to a decrease to state and local income taxes and an increase in the valuation allowance. The effective tax rate for the six months ended June 30, 2026 differed from the Federal statutory rate primarily due to state and local income taxes, non-deductible executive compensation and a current year benefit related to a decrease in the valuation allowance. The effective tax rate for the six months ended June 30, 2025 differed from the Federal statutory rate primarily due to state and local income taxes and an increase to the valuation allowance.
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