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Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

		December 31,
		2024				2023
Income tax (benefit) provision:
Current federal income tax expense		$	-			$	-
Current state income tax expense			2,992				166,223
Deferred federal income tax benefit			272,435				(2,138,204	)
Deferred state income tax benefit			(550,248	)			(1,006,757	)
Total income tax benefit		$	(274,821	)		$	(2,978,738	)
Deferred tax assets:
Net operating loss carryforwards		$	21,943,518			$	18,672,782
Tax credits			643,945				643,945
Lease liabilities			13,228,639				14,555,615
Premium adjustments and IBNR			440,447				580,373
Long-term investments			4,768,942				-
Disallowed interest expense carryforwards			78,388				1,204
Other			103,687				70,452
Total deferred tax assets			41,207,566				34,524,371
Valuation allowance			(862,510	)			(846,633	)
Net deferred tax assets		$	40,345,056			$	33,677,738
Deferred tax liabilities:
Property and equipment		$	(22,263,046	)		$	(19,504,745	)
Intangibles			(11,510,781	)			(8,269,752	)
Right of use assets			(13,224,225	)			(14,684,988	)
Long-term investments			-				(2,570,253	)
Unrealized gain on securities			(5,272,973	)			(759,812	)
Total deferred tax liabilities			(52,271,025	)			(45,789,550	)
Net deferred tax liabilities		$	(11,925,969	)		$	(12,111,812	)

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

		For the Year Ended December 31,
		2024				2023
Federal income tax at statutory rate		$	644,659			$	(1,941,583	)
State tax income taxes, net of federal benefit			(138,994	)			(1,118,721	)
Non-controlling interest			(1,126,491	)			(213,753	)
Provision to return adjustments			(1,092,238	)			129,405
Limitation on deduction for officer compensation			539,138				-
Permanent differences			60,886				137,649
State rate change			719,612				-
Valuation allowance			15,877				14,510
Other			102,730				13,755
Total income tax benefit		$	(274,821	)		$	(2,978,738	)

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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