INCOME TAXES |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2026 | |||
| INCOME TAXES | |||
| INCOME TAXES |
For the year ending December 31, 2025, Binah Capital has elected to file a consolidated tax return which will include all subsidiaries including Binah Capital Corp., BMS, the PKSH Entities, the Cabot Entities and WEG. Therefore, these consolidated financial statements include an income tax provision for all the taxable entities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases and net operating loss carryforwards. The effective tax rate was approximately 20% and 27% for the three and six months ended June 30, 2026. The effective income tax rate was approximately (17)% and 58% for the three and six months ended June 30, 2025. The effective rates differed from the statutory rate primarily due to state taxes, warrant revaluations, and other permanent differences. |