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Taxes (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of 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 September 30, 2023 and 2022.

Table 23.1 – Reconciliation of Statutory Tax Rate to Effective Tax Rate

						September 30, 2023						September 30, 2022
Federal statutory rate						21.0		%				21.0		%
State taxes, net of Federal tax effect, as applicable						(1.0)		%				0.5		%
Differences in taxable (loss) income from GAAP income						(0.6)		%				—		%
Change in valuation allowance						—		%				—		%
REIT GAAP income or loss not subject to federal income tax						(22.2)		%				(13.4)		%
Effective Tax Rate						(2.8)		%				8.1		%

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- References

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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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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