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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Components of Income Tax Provision

The components of the income tax provision for the three and six months ended June 30, 2025 and 2024 are as follows:

			Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
			June 30, 2025				June 30, 2024				June 30, 2025				June 30, 2024
			(unaudited)				(unaudited)				(unaudited)				(unaudited)
Current:
Federal			$	—			$	—			$	—			$	—
State				14,868				17,184				18,328				35,277
				14,868				17,184				18,328				35,277
Deferred:
Federal				581,661				565,552				892,201				368,178
State				49,485				31,226				279,479				149,907
Subtotals				631,146				596,778				1,171,680				518,085
Change in deferred tax valuation allowance				(631,146	)			(596,778	)			(1,171,680	)			(518,085	)
				—				—				—				—
Income tax provision			$	14,868			$	17,184			$	18,328			$	35,277

Reconciliation of Statutory Federal Income Tax Provision (Benefit)

		Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
		June 30, 2025				June 30, 2024				June 30, 2025				June 30, 2024
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Statutory federal income tax provision (benefit)			329,971			$	1,043,231			$	1,324,738			$	1,324,823
Federal tax impact of REIT election			375,255				(259,448	)			(135,878	)			(530,293	)
Statutory federal income tax provision (benefit) at TRS			705,226				783,783				1,188,860				794,530
State income tax provision (benefit), net of federal provision (benefit)			(59,212	)			(169,821	)			1,148				(241,168	)
Change in valuation allowance			(631,146	)			(596,778	)			(1,171,680	)			(518,085	)
		$	14,868			$	17,184			$	18,328			$	35,277

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- References

No definition available.

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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://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

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

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