Income Taxes

3 Months Ended

Mar. 31, 2021

11. Income Taxes

The components of the income tax (benefit) provision for the three months ended March 31, 2021 and 2020 are as follows:

	Three Months Ended			Three Months Ended
	March 31, 2021			March 31, 2020
	(unaudited)			(unaudited)
Current:
Federal	$	—		$	—
State		2,609			41,950
		2,609			41,950
Deferred:
Federal		(1,609,051	)		(1,396,079	)
State		(320,081	)		(233,328	)
Subtotals		(1,929,132	)		(1,629,407	)
Change in deferred tax valuation allowance		1,929,132			7,041,491
		-			5,412,084
	$	2,609		$	5,454,034

	Three Months Ended			Three Months Ended
	March 31, 2021			March 31, 2020
	(unaudited)			(unaudited)
Statutory federal income tax provision	$	(1,590,047	)	$	(1,653,922	)
Effect of non-taxable REIT loss		1,910,128			7,299,334
State income tax provision		(317,472	)		(191,378	)
	$	2,609		$	5,454,034

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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