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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Tax Expense (Benefit) | Teknova’s provision for (benefit from) income taxes consist of the following for the year ended December 31, 2021 and 2020 (in thousands):
|  | For the Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | (1,196 | )
State |  |  | 3 |  |  |  | 262 |
Total current |  |  | 3 |  |  |  | (934 | )
Deferred: |  |  |  |  |  |
Federal |  |  | (2,604 | ) |  |  | 1,954 |
State |  |  | (233 | ) |  |  | 136 |
Total deferred |  |  | (2,837 | ) |  |  | 2,090 |
Income tax expense (benefit) |  | $ | (2,834 | ) |  | $ | 1,156 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory tax rate to the Company’s effective tax rate is as follows:
|  | For the Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Statutory federal income tax rate % |  |  | 21.0 | % |  |  | 21.0 | %
State income tax rate |  |  | 2.1 |  |  |  | 7.0 |
Permanent items |  |  | — |  |  |  | (0.2 | )
Stock compensation |  |  | (1.5 | ) |  |  | 1.7 |
CARES Act |  |  | — |  |  |  | (4.7 | )
Research and development credit |  |  | 0.6 |  |  |  | — |
Other |  |  | 0.2 |  |  |  | (0.3 | )
Effective tax rate % |  |  | 22.4 | % |  |  | 24.5 | %
Schedule of Net Deferred Tax Liability and Assets | The Company’s component of net deferred tax liability and assets consist of the following as of December 31, 2021 and 2020 (in thousands):
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
Deferred tax asset |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 3,672 |  |  | $ | 692 |
Accrued compensation |  |  | 401 |  |  |  | 214 |
Stock compensation |  |  | 262 |  |  |  | — |
Tax credit carryforwards |  |  | 150 |  |  |  | 53 |
Accruals and other |  |  | 241 |  |  |  | 88 |
Total deferred tax asset |  |  | 4,726 |  |  |  | 1,047 |
Deferred tax liability |  |  |  |  |  |
Fixed assets |  |  | (2,429 | ) |  |  | (1,746 | )
Intangibles |  |  | (4,973 | ) |  |  | (5,291 | )
Total deferred tax liability |  |  | (7,402 | ) |  |  | (7,037 | )
Valuation allowance |  |  | (477 | ) |  |  | — |
Net deferred tax liability |  | $ | (3,153 | ) |  | $ | (5,990 | )

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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 http://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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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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 -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
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