|
The (provision) benefit for income taxes consisted of the following:
| |
|
Year Ended December 31,
|
|
| |
|
2024
|
|
|
2023
|
|
|
Federal:
|
|
|
|
|
|
|
|
|
|
Current
|
|
$ |
- |
|
|
$ |
- |
|
|
Deferred
|
|
|
(486 |
) |
|
|
33 |
|
| |
|
|
|
|
|
|
|
|
|
State:
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
Total (provision) benefit for income taxes
|
|
$ |
(486 |
) |
|
$ |
33 |
|
A reconciliation of the expected statutory federal tax and the total income tax expense from continuing operations was as follows:
| |
|
Year Ended December 31,
|
|
| |
|
2024
|
|
|
2023
|
|
| |
|
|
|
|
|
|
|
|
|
Federal statutory rate
|
|
|
21 |
% |
|
|
-21 |
% |
|
Effect of:
|
|
|
|
|
|
|
|
|
|
Noncontrolling interest
|
|
|
0 |
% |
|
|
16 |
% |
|
Change in valuation allowance
|
|
|
-98 |
% |
|
|
0 |
% |
|
Other, net
|
|
|
-10 |
% |
|
|
-10 |
% |
| |
|
|
|
|
|
|
|
|
|
Total income tax expense
|
|
|
-87 |
% |
|
|
-15 |
% |
Deferred tax assets and liabilities consisted of the following (in thousands):
| |
|
December 31,
|
|
| |
|
2024
|
|
|
2023
|
|
|
Deferred tax assets and (liabilities):
|
|
|
|
|
|
|
|
|
|
Acquisition and organizational costs
|
|
$ |
36 |
|
|
$ |
41 |
|
|
Net operating losses
|
|
|
52 |
|
|
|
84 |
|
|
Depreciation and amortization
|
|
|
(96 |
) |
|
|
(71 |
) |
|
Accruals and other
|
|
|
472 |
|
|
|
432 |
|
|
Net deferred tax asset before valuation allowance
|
|
|
464 |
|
|
|
486 |
|
|
Valuation allowance
|
|
|
(464 |
) |
|
|
- |
|
|
Net deferred tax asset
|
|
$ |
- |
|
|
$ |
486 |
|
|