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Subsequent Events (Details) - New Tax Legislation
Jul. 04, 2025
Subsequent Event  
Subsequent Event  
New Tax Legislation On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was signed into law by the President of the United States. The Act makes permanent many provisions of the expiring Tax Cuts and Jobs Act of 2017, and enacts new tax laws effective primarily in 2025 or 2026. The new legislation permanently reinstates 100% bonus depreciation for qualifying property acquired after January 19, 2025, and permanently extends the 20% deduction for qualified business income. The new legislation also makes permanent the modified calculation of adjusted taxable income that corresponds with earnings before interest, taxes depreciation, and amortization (EBITDA) for the purpose of calculating the deduction limits for net business interest expense. This change applies to taxable years beginning after December 31, 2024. We have reviewed the provisions of the Act and believe there will be an immaterial impact to our financial statements.