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Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation of Statutory Tax Rate to Effective Tax Rate

The following is a reconciliation of the statutory federal and state tax rates to our effective tax rate at March 31, 2021 and 2020.

Table 22.1 – Reconciliation of Statutory Tax Rate to Effective Tax Rate

						March 31, 2021						March 31, 2020
Federal statutory rate						21.0		%				21.0		%
State statutory rate, net of Federal tax effect						8.6		%				8.6		%
Differences in taxable (loss) income from GAAP income						(12.5)		%				(25.9)		%
Change in valuation allowance						(3.7)		%				(2.5)		%
Dividends paid deduction						(2.8)		%				1.1		%
Effective Tax Rate						10.6		%				2.3		%

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- References

No definition available.

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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