INCOME TAX |
9 Months Ended |
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Sep. 30, 2026 | |
| INCOME TAX | |
| INCOME TAX | NOTE 8 – INCOME TAX The Company recorded income tax expense of $2,514 for the three months ended September 30, 2026, compared to $29,850 for the three months ended September 30, 2025. The effective tax rate for the three months ended September 30, 2026 and 2025 was (0.08)% and 2.51%, respectively. The Company recorded income tax expense of $356,192 for the nine months ended September 30, 2026, compared to $77,360 for the nine months ended September 30, 2025. The effective tax rate for the nine months ended September 30, 2026 and 2025 was (11.17)% and 1.48%, respectively. The Company’s effective tax rate for interim periods is based on the estimated annual effective tax rate, adjusted for discrete items occurring within the quarter. The Company continues to assess its valuation allowance position on deferred tax assets and determined that no material changes were necessary as of September 30, 2026. As of September 30, 2026 and 2025, the Company has no gross unrecognized tax benefits that would affect the effective tax rate. The Company does not anticipate significant changes in unrecognized tax benefits within the next 12 months. The Company has gross unrecognized tax benefits of $0, of which $0 would affect the effective tax rate if recognized. The Company remains subject to examination in various jurisdictions. As of September 30, 2026, open tax years include federal 2021–2024 and California 2020–2024.
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