Income Taxes (Tables)
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6 Months Ended |
Jun. 30, 2026 |
| Income Taxes [Abstract] |
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| Schedule of Provision for Income Taxes |
The Company’s provision for income taxes for the three and six months ended June 30, 2026 consists of the following: | | | Three Months Ended June 30, 2026 | | | Three Months Ended June 30, 2025 | | | Six Months Ended June 30, 2026 | | | Six Months Ended June 30, 2025 | | | Current taxes: | | | | | | | | | | | | | | Federal | | $ | 562,427 | | | $ | - | | | $ | 562,427 | | | $ | - | | | State | | | 220,954 | | | | - | | | | 220,954 | | | | - | | | Total current taxes | | | 783,381 | | | | - | | | | 783,381 | | | | - | | | Deferred taxes: | | | | | | | | | | | | | | | | | | Federal | | | (2,360,782 | ) | | | - | | | | (2,360,782 | ) | | | - | | | State | | | (927,450 | ) | | | - | | | | (927,450 | ) | | | - | | | Total deferred taxes | | | (3,288,232 | ) | | | - | | | | (3,288,232 | ) | | | - | | | Total income tax provision (benefit) | | $ | (2,504,851 | ) | | $ | - | | | $ | (2,504,851 | ) | | $ | - | |
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| Schedule of Deferred Tax Assets |
Deferred tax assets and liabilities as of June 30, 2026 and December 31, 2025 consist of the following: | | | June 30, 2026 | | | December 31, 2025 | | | Deferred tax assets: | | | | | | | | Net operating loss carryforwards | | $ | 2,560,350 | | | $ | 5,693,874 | | | Employee compensation and benefits | | | 297,698 | | | | 166,773 | | | Operating lease liabilities | | | 230,991 | | | | 2,770 | | | Stock-based compensation | | | 600,284 | | | | 596,136 | | | Gross deferred tax assets | | | 3,689,323 | | | | 6,459,553 | | | Valuation allowance | | | - | | | | (6,456,783 | ) | | Total deferred tax assets, net of valuation allowance | | | 3,689,323 | | | | 2,770 | | | Deferred tax liabilities: | | | | | | | | | | Book basis of operation lease ROU assets in excess of tax basis | | | (230,992 | ) | | | (2,770 | ) | | Book basis of property and equipment in excess of tax basis | | | (93,851 | ) | | | - | | | Other | | | (403 | ) | | | - | | | Total deferred tax liabilities | | | (325,246 | ) | | | (2,770 | ) | | Net deferred tax asset | | $ | 3,364,077 | | | $ | - | |
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| Schedule of Income Tax Rate |
The Company’s effective tax rate for the six months ended June 30, 2026 and 2025 differs from the U.S. federal statutory rate as follows: | | | Six Months Ended June 30, 2026 | | | Six Months Ended June 30, 2025 | | | U.S. federal statutory tax rate | | | 21.0 | % | | | 21.0 | % | | State income taxes, net of federal benefit | | | 6.5 | % | | | 6.5 | % | | Transaction costs | | | 0.1 | % | | | 0.0 | % | | Permanent differences | | | 0.0 | % | | | 0.0 | % | | Utilization of reserved NOLs | | | -23.3 | % | | | 0.0 | % | | Change in valuation allowance | | | -24.7 | % | | | -29.3 | % | | Other | | | 1.8 | % | | | 1.8 | % | | Effective tax rate | | | -18.6 | % | | | 0.0 | % | | | | Six Months Ended June 30, 2026 | | | Six Months Ended June 30, 2025 | | | Pre-tax book income (loss) | | $ | 13,431,517 | | | $ | (789,596 | ) | | Tax provision (benefit) | | | (2,504,851 | ) | | | - | | | Effective rate | | | -18.6 | % | | | 0.0 | % |
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