Quarterly report [Sections 13 or 15(d)]

Income Taxes

v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
During the three months ended June 30, 2025 and 2024, the Company recorded income tax expense from continuing operations of $11,390 and $11,169, respectively, and income tax expense of $100,201 and $167,153 from discontinued operations, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded income tax expense from continuing operations of $24,794 and $19,751, respectively, and income tax expense of $203,613 and $337,498 from discontinued operations, respectively. The Company’s effective tax rate differs from the federal statutory tax rate for the three months ended June 30, 2025, primarily due to change in valuation allowance and state taxes. The Company’s effective tax rate differs from the statutory rate for the three months ended June 30, 2024, primarily due to change in valuation allowance. The Company’s effective tax rate differs from the statutory rate for the six months ended June 30, 2025, primarily due to change in valuation allowance and state taxes. The Company’s effective tax rate differs from the statutory rate for the six months ended June 30, 2024, primarily due to nondeductible meals and entertainment, change in valuation allowance and state taxes. Refer to Note 12, Subsequent Events for additional information on U.S. legislation signed into law after the three months ended June 30, 2025.