XML 34 R17.htm IDEA: XBRL DOCUMENT
v3.25.0.1

INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2024
INCOME TAXES |
INCOME TAXES | (11) INCOME TAXES The pre-tax income from continuing operations on which the provision for income taxes was computed is as follows for the years ended December 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
United States | ​ | $ | 3,627 | ​ | $ | 12,579
Foreign | ​ |  | — | ​ |  | —
Total | ​ |  | 3,627 | ​ |  | 12,579
​ Income tax expense consists of the following for the years ended December 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Current tax expense: |  | ​ |  |  | ​ |
Federal | ​ | $ | 1,136 | ​ | $ | 3,433
State | ​ |  | 431 | ​ |  | 1,717
Total tax expense: | ​ |  | 1,567 | ​ |  | 5,150
Deferred tax benefit | ​ |  |  | ​ |  |
Federal | ​ |  | (711) | ​ |  | (1,873)
State | ​ |  | (223) | ​ |  | (430)
Total deferred tax benefit | ​ | $ | (934) | ​ | $ | (2,303)
Total | ​ | $ | 633 | ​ | $ | 2,847
​ A reconciliation of income tax computed at the U.S. statutory rate of 21% to the effective income tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | ​ | 2023 |
Statutory rate |  | 21 | % | ​ | 21 | %
State taxes |  | 3 | % | ​ | 7 | %
Meals and entertainment | ​ | 10 | % | ​ | 3 | %
Excess officer's compensation | ​ | 1 | % | ​ | 3 | %
Stock based compensation |  | — | % | ​ | (7) | %
Research and development credit |  | (17) | % | ​ | (4) | %
Other | ​ | (1) | % | ​ | — | %
Effective rate |  | 17 | % | ​ | 23 | %
​ The tax effects of temporary differences that give rise to deferred tax assets (liabilities) at December 31, 2024 and 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Deferred tax assets: |  | ​ |  |  | ​ |
Accrued expenses | ​ | $ | 40 | ​ | $ | 34
Lease liability | ​ |  | 3,652 | ​ |  | 4,540
Inventory | ​ |  | 263 | ​ |  | 261
Stock based compensation | ​ |  | 611 | ​ |  | 371
Section 174 costs | ​ |  | 4,259 | ​ |  | 2,829
Deferred tax assets | ​ | $ | 8,825 | ​ | $ | 8,035
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ |  |  | ​ |  |
Property and equipment | ​ |  | (447) | ​ |  | (469)
Finance lease | ​ |  | (294) | ​ |  | (149)
Prepaid expenses | ​ |  | (215) | ​ |  | (198)
Right-of-use asset | ​ |  | (2,680) | ​ |  | (3,172)
Amortization | ​ |  | (390) | ​ |  | (182)
Deferred tax liabilities | ​ | $ | (4,026) | ​ | $ | (4,170)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets | ​ | $ | 4,799 | ​ | $ | 3,865
​ The accounting standard related to income taxes applies to all tax positions and defines the confidence level that a tax position must meet in order to be recognized in the financial statements. The accounting standard requires that the tax effects of a position be recognized only if it is “more-likely-than-not” to be sustained by the taxing authority as of the reporting date. If a tax position is not considered “more-likely-than-not” to be sustained, then no benefits of the position are to be recognized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. This standard also provides guidance on the presentation of tax matters and the recognition of potential interest and penalties. As of December 31, 2024 and 2023, the Company does not have an unrecognized tax liability. The Company does not classify penalty and interest expense related to income tax liabilities as an income tax expense. Penalties and interest are included within general and administrative expenses on the consolidated statements of income. The Company files income tax returns in the U.S. and various state jurisdictions, and there are open statutes of limitations for taxing authorities to audit our tax returns from 2021 through the current period.

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 The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration