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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income tax expense consisted of the following for the year ended December 31, 2021 and 2020 (in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 72 |  |  | $ | (242 | )
State |  |  | (34 | ) |  |  | 10 |
Total current income tax expense (benefit) |  |  | 38 |  |  |  | (232 | )
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |
State |  |  | — |  |  |  | — |
Total deferred income tax expense |  |  | — |  |  |  | — |
Income tax expense (benefit) |  | $ | 38 |  |  | $ | (232 | )
Schedule of Effective Income Tax Rate Reconciliation | The difference between the statutory rate for federal income tax and the effective income tax rate was as follows:
|  | December 31, 2021 |  |  | December 31, 2020 |
Current: |  |  |  |  |  |  |  |
Income taxes at statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State taxes, net of federal benefit |  |  | — |  |  |  | — |
LLC flow-through structure |  |  | (21.4 | ) |  |  | (21.5 | )
Federal Credits |  |  | 1.8 |  |  |  | 2.3 |
Provision to return adjustment |  |  | — |  |  |  | 0.2 |
Change in valuation allowance |  |  | (1.3 | ) |  |  | (1.1 | )
Other |  |  | (0.2 | ) |  |  | — |
Effective income tax rate |  |  | (0.1 | )% |  |  | 0.9 | %
Schedule of Deferred Tax Assets and Liabilities | Components of the Company’s deferred tax assets and liabilities included in the consolidated balance sheet consisted of the following (in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued bonus |  | $ | 376 |  |  | $ | 243 |
Fixed assets |  |  | — |  |  |  | 108 |
Federal credit carryforwards |  |  | 939 |  |  |  | 331 |
Leases |  |  | 28 |  |  |  | — |
Start-up costs |  |  | 39 |  |  |  | 48 |
Deferred tax assets before valuation allowance |  |  | 1,382 |  |  |  | 730 |
Valuation allowance |  |  | 1,237 |  |  |  | 560 |
Total deferred tax assets |  |  | 145 |  |  |  | 170 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | 90 |  |  |  | 148 |
Fixed assets |  |  | 47 |  |  |  | — |
Prepaid expenses |  |  | 8 |  |  |  | 22 |
Total deferred tax liabilities |  |  | 145 |  |  |  | 170 |
Net deferred tax asset |  | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of total unrecognized tax benefits for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |
Unrecognized tax benefits (gross): |  |  |  |  |  |  |  |
Benefits at the beginning of the year |  | $ | — |  |  | $ | — |
Increase related to prior year tax positions |  |  | 94 |  |  |  | — |
Decrease related to prior year tax positions |  |  | — |  |  |  | — |
Increase related to current year tax positions |  |  | 86 |  |  |  | — |
Benefits at the end of the year |  | $ | 180 |  |  | $ | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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