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Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

		December 31,
		2023				2022
Income tax (provision) benefit:
Current federal income tax expense		$	-			$	-
Current state income tax expense			166,223				256,971
Deferred federal income tax benefit			(2,138,204	)			(1,004,743	)
Deferred state income tax benefit			(1,006,757	)			(1,757,161	)
Total income tax benefit before valuation allowance			(2,978,738	)			(2,504,933	)
Valuation allowance			-				-
Total income tax benefit		$	(2,978,738	)		$	(2,504,933	)
Deferred tax assets:
Net operating loss carryforwards		$	18,672,782			$	7,011,687
Tax credits			643,945				643,945
Lease liabilities			14,555,615				15,644,321
Premium adjustments and IBNR			580,373				906,208
Disallowed interest expense carryforwards			1,204				201,725
Other			70,452				54,714
Total Deferred Tax Assets			34,524,371				24,462,600
Valuation allowance			(846,633	)			(832,123	)
Net deferred tax assets		$	33,677,738			$	23,630,477
Deferred tax liabilities:
Property and equipment		$	(19,504,745	)		$	(14,785,116	)
Intangibles			(8,269,752	)			(5,637,973	)
Right of use assets			(14,684,988	)			(15,721,959	)
Investment in unconsolidated subsidiaries			(2,570,253	)			(745,464	)
Unrealized gain on securities			(759,812	)			(1,679,572	)
Total deferred tax liabilities			(45,789,550	)			(38,570,084	)
Net deferred tax liabilities		$	(12,111,812	)		$	(14,939,607	)

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

		For the Year Ended December 31,
		2023				2022
Federal income tax at statutory rate		$	(1,941,583	)		$	1,653,579
State tax income taxes, net of federal benefit			(1,118,721	)			(279,305	)
Non-controlling interest			(213,753	)			(38,802	)
Provision to return adjustments			129,405				275,920
Warrant income			-				(489,221	)
Gain on deconsolidation of Yellowstone			-				(3,979,091	)
Permanent differences			137,649				58,975
Valuation allowance			14,510				334,861
Other			13,755				(41,849	)
Total income tax benefit		$	(2,978,738	)		$	(2,504,933	)

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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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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
-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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