Note 11 - Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
NOTE 11. INCOME TAXES
The Company will generally not be subject to U.S. federal income tax on its REIT taxable income to the extent that it distributes its REIT taxable income to its stockholders and satisfies the ongoing REIT requirements, including meeting certain asset, income and stock ownership tests. A REIT must generally distribute at least 90% of its REIT taxable income, determined without regard to the deductions for dividends paid and excluding net capital gain, annually to its stockholders, to maintain REIT status. To avoid a 4% excise tax, a REIT generally must distribute during the taxable year an amount equal to at least 85% of its ordinary income, 95% of its capital gain net income, and certain undistributed income from prior taxable years. The remaining balance may be distributed up to the end of the following taxable year, provided the REIT elects to treat such amount as a prior year distribution and meets certain other requirements.
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