XML 76 R47.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes From Continuing Operations | The provision for income taxes is comprised of the following:
Years ended December 31, |  | 2024 |  | 2023 |
Current federal income tax expense |  | $ | - |  |  | $ | - |  |
Current state income tax expense |  | 2,160 |  |  | 2,730 |  |
Deferred federal and state income tax (benefit) |  | 4,927,561 |  |  | (1,199,915) |  |
Income tax (benefit) |  | $ | 4,929,721 |  |  | $ | (1,197,185) |  |
Schedule of Reconciliation of the Federal Statutory Rate | A reconciliation of the federal statutory rate to the Company’s effective tax rate is as follows:
Years ended December 31, |  | 2024 |  | 2023 |
Computed expected tax expense (benefit) |  | $ | 4,890,513 |  |  | 21.0 | % |  | $ | (1,546,925) |  |  | 21.0 | % |
State taxes, net of Federal benefit |  | (431,749) |  |  | (1.9) |  |  | (271,543) |  |  | 3.7 |  |
State valuation allowance |  | 439,905 |  |  | 1.9 |  |  | 282,864 |  |  | (3.8) |  |
Permanent differences |  |  |  |  |  |  |  |  |
Dividends received deduction |  | (64,525) |  |  | (0.3) |  |  | (74,323) |  |  | 1.0 |  |
Non-taxable investment income |  | (122,194) |  |  | (0.5) |  |  | (98,767) |  |  | 1.3 |  |
Stock-based compensation |  | (280,104) |  |  | (1.2) |  |  | 62,801 |  |  | (0.9) |  |
Sale leaseback transaction |  | 99,775 |  |  | 0.4 |  |  | 315,894 |  |  | (4.3) |  |
Other permanent differences |  | 191,488 |  |  | 0.8 |  |  | 96,789 |  |  | (1.3) |  |
Prior year tax matters |  | 173,572 |  |  | 0.8 |  |  | 27,460 |  |  | (0.4) |  |
Other |  | 33,040 |  |  | (0.1) |  |  | 8,565 |  |  | (0.1) |  |
Income tax expense (benefit), as reported |  | $ | 4,929,721 |  |  | 21.2 | % |  | $ | (1,197,185) |  |  | 16.3 | % |
Schedule of Deferrred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows:
|  | December 31, 2024 |  | December 31, 2023 |
Deferred tax asset: |  |  |  |  |
Net operating loss carryovers (1) |  | $ | 419,357 |  |  | $ | 5,283,016 |  |
Claims reserve discount |  | 1,305,466 |  |  | 1,204,334 |  |
Unearned premium |  | 3,810,973 |  |  | 2,742,603 |  |
Deferred ceding commission revenue |  | 2,423,660 |  |  | 1,986,782 |  |
Net unrealized losses on securities |  | 3,069,900 |  |  | 3,357,463 |  |
Other |  | 834,921 |  |  | 1,153,903 |  |
Total deferred tax assets |  | 11,864,277 |  |  | 15,728,101 |  |
Deferred tax liability: |  |  |  |  |
Investment in KICO (2) |  | 759,543 |  |  | 759,543 |  |
Deferred acquisition costs |  | 5,193,798 |  |  | 4,158,538 |  |
Intangibles |  | 105,000 |  |  | 105,000 |  |
Depreciation and amortization |  | 208,016 |  |  | 153,201 |  |
Total deferred tax liabilities |  | 6,266,357 |  |  | 5,176,282 |  |
Net deferred income tax asset |  | $ | 5,597,920 |  |  | $ | 10,551,819 |  |
Schedule of Net Operating Loss Carryovers | The deferred tax assets from net operating loss carryovers are as follows:
Type of NOL |  | December 31, 2024 |  | December 31, 2023 |  | Expiration |
Federal only, NOL from 2024 and 2023 |  | $ | 419,357 |  |  | $ | 5,283,016 |  |  | None |
State only (A) |  | 3,075,395 |  |  | 2,560,372 |  |  | December 2027 - December 2043 |
Valuation allowance |  | (3,075,395) |  |  | (2,560,372) |  |  |  |
State only, net of valuation allowance |  | - |  |  | - |  |  |  |
Total deferred tax asset from net operating loss carryovers |  | $ | 419,357 |  |  | $ | 5,283,016 |  |  |  |
Schedule Of Changes In Net Deferred Income Tax Liability To Deferred Income Tax Benefit | The table below reconciles the changes in net deferred income tax assets (liabilities) to the deferred income tax benefit for the year ended December 31, 2024:
Decrease in net deferred income tax assets | $ | 4,953,899 |  |
Less: Deferred tax expense allocated to other comprehensive income | 26,338 |  |
Deferred income tax | $ | 4,927,561 |  |

X
- Definition Custom Element. + References No definition available. + Details
Name: | kins_ScheduleOfChangesInNetDeferredIncomeTaxLiabilityToDeferredIncomeTaxBenefitTableTextBlock
Namespace Prefix: | kins_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 + 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 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
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://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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration