Income Taxes |
6 Months Ended |
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Jun. 30, 2023 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income TaxesDuring the three months ended June 30, 2023 and 2022, the Company recorded income tax benefit of $160,585 and income tax benefit of $477,884, respectively. During the six months ended June 30, 2023 and 2022, the Company recorded income tax expense of $681,304 and income tax benefit of $536,960, respectively. The Company’s effective tax rates differ from the federal statutory tax rate due to permanent differences, discrete items and state taxes. The Company’s effective tax rate differs from the statutory rate for the six months ended June 30, 2023 primarily due to the company’s ERC refunds from the Internal Revenue Service. The tax effect of the refund amount, net of the related consulting fees, is treated as a discrete item for the six months ended June 30, 2023 (See Note 11 "Employee Retention Credit"). The effective tax rate for the three months ended June 30, 2023 and for the three and six months ended June 30, 2022 differs from the statutory rate primarily due to the pre-tax income reported by the Joint Corp., without the VIEs |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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