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INCOME TAXES
 6 Months Ended
Jun. 30, 2025
INCOME TAXES  
INCOME TAXES

NOTE 11 — INCOME TAXES

The Company recognized $74,911 of tax expense on pre-tax income of $336,794, resulting in an effective income tax rate of 22.2% for the six months ended June 30, 2025. The effective income tax rate was 23.7% for the six months ended June 30, 2024.

The effective tax rate was lower for the six months ended June 30, 2025, as compared with the same period in 2024, primarily due to mix of earnings and timing of discrete tax items.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the United States. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company is currently assessing the impact on its consolidated financial statements.

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