Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.23.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of components of provision for income taxes

December 31, 

2022

2021

Current provision:

    

  

    

  

Federal

$

$

State

 

22

 

92

Total current

 

22

 

92

Deferred benefit:

 

 

Federal

 

40

 

(2,983)

State

 

(116)

 

(356)

Total deferred

 

(76)

 

(3,339)

Income tax benefit

$

54

$

3,247

Schedule of reconciliation of the statutory U.S. federal rate to the Company's effective tax rate

For the Years Ended December 31, 

    

2022

2021

 

Provision for federal income taxes at statutory rates

    

5,822

    

(21)

%  

3,305

    

(21)

%

Provision for state income taxes, net of federal benefit

 

505

(2)

%  

200

 

(1)

%

Change in valuation allowance

 

(6,274)

23

%  

(203)

 

1

%

Nondeductible expenses

 

(6)

%  

(55)

 

%

Return to provision adjustments

 

%  

 

%

Other

 

7

%  

 

%

Income tax benefit

 

54

%  

3,247

 

21

%

Effective Tax Rate

 

0.2

%  

20.6

%  

  

Schedule of tax effects of the temporary differences and carryforwards that give rise to the deferred tax assets

December 31, 

2022

2021

Deferred tax assets

    

  

    

  

Net operating loss carryforward

$

9,383

$

5,581

Property and equipment

 

 

Intangibles

 

 

Reserves

 

94

 

47

Share based compensation

2,270

713

Interest expense carryforward

 

18

 

43

Research and development credits

35

35

Lease liability

 

1,566

 

1,009

Basis in partnership

2

3

Charitable contributions carryover

 

28

 

16

Total deferred tax assets

 

13,396

 

7,447

Deferred tax liabilities

 

 

Property and equipment

(54)

(66)

Intangibles

(3,247)

(3,432)

Internally developed software

 

(692)

 

(877)

Unrealized gain/loss

(29)

Right-of-Use assets

(1,259)

(991)

Prepaid expenses

 

(287)

 

(229)

Total deferred tax liabilities

 

(5,568)

 

(5,595)

Valuation allowance

 

(8,125)

 

(1,852)

Deferred tax liability, net

$

(297)

$