XML 49 R36.htm IDEA: XBRL DOCUMENT v3.22.1

Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		December 31,
		2021				2020
Income tax (provision) benefit:
Current federal income tax expense (benefit)		$	-			$	(44,486	)
Current state income tax expense (benefit)			-				(12,894	)
Deferred federal income tax expense (benefit)			13,322,593				(1,579,511	)
Deferred state income tax expense (benefit)			4,371,387				2,224,254
Total Income Tax Expense Before Valuation Allowance			17,693,980				587,363
Valuation allowance			-				(587,363	)
Total Income Tax Expense		$	17,693,980			$	-
Deferred tax assets:
Net operating loss carryforwards		$	6,831,339			$	7,111,956
Tax credits			366,366				366,366
Intangibles			-				47,731
Lease liabilities			16,636,855				14,064,430
Premium adjustments and IBNR			404,891				776,456
Unrealized loss on securities			-				1,126,052
Other			16,754				-
Valuation allowance			(2,165,808	)			(7,230,229	)
Net Deferred Tax Assets		$	22,090,397			$	16,262,762
Deferred tax liabilities:
Property and equipment		$	(7,770,312	)		$	(1,754,929	)
Intangibles			(1,480,060	)			-
Right of use assets			(16,810,802	)			(14,311,642	)
Deferred acquisition costs			-				(187,002	)
Investment in unconsolidated subsidiaries			(887,327	)			(9,189	)
Unrealized gain on securities			(12,892,876	)			-
Total Deferred Tax Liabilities			(39,841,377	)			(16,262,762	)
Net Deferred Tax Liabilities		$	(17,750,980	)		$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		For the Year Ended December 31,
		2021				2020
Federal income tax at statutory rate		$	15,291,464			$	(280,069	)
State income tax, net of federal benefit			4,498,347				(12,894	)
Provision to return adjustments			973,002				-
Nondeductible officer's compensation			3,803,973				-
Warrant income			(1,672,815	)			-
Other permanent differences			(56,592	)			5,422
Other			(21,978	)			(299,822	)
Change in valuation allowance			(5,121,421	)			587,363
Federal income tax at effective rate		$	17,693,980			$	-

X

- 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration