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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components Income Tax Provision

The components of the provision for income taxes consists of the following for the years ended December 31, 2022 and 2021:

Schedule of Components Income Tax Provision

		2022				2021
		Year Ended December 31,
		2022				2021
Current:
Federal		$	563,821			$	6,092,730
State			(266,248	)			886,173
Total current		$	297,573			$	6,978,903
Deferred:
Federal			(3,945,090	)			1,394,686
State			(961,468	)			603,642
Total deferred			(4,906,558	)			1,998,328
Total income tax (benefit) expense		$	(4,608,985	)		$	8,977,231

Schedule of Benefit from Income Taxes and Effective Tax Rates

A reconciliation of income tax expense at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows:

Schedule of Benefit from Income Taxes and Effective Tax Rates

		2022				2021
		Year Ended December 31,
		2022				2021
Federal income tax expense at statutory rate			21.0	%			21.0	%
State income tax expense, net of federal tax benefit			4.8	%			3.9	%
Permanent differences:
- Foreign derived intangible income deduction			1.4	%			-3.5	%
- Stock based compensation			-3.6	%			0.2	%
- Contingent consideration remeasurement			8.8	%			0.0	%
- Goodwill impairment			-17.1	%			0.0	%
- Other permanent differences			-0.6	%			0.3	%
Research and development credits			11.1	%			-2.6	%
Change in uncertain tax positions			-2.1	%			1.4	%
Change in valuation allowance			0.0	%			0.0	%
Other			0.8	%			-1.0	%
Effective income tax rate			24.5	%			19.7	%

Schedule of Deferred Tax Assets

Net deferred tax liabilities consist of the following components as of December 31, 2022 and 2021:

Schedule of Deferred Tax Assets

		2022				2021
		December 31,
		2022				2021
Deferred tax assets:
Accrued liabilities		$	98,141			$	-
Reserves and allowances			765,004				166,050
Deferred compensation			566,076				393,871
Research and development credits			3,460,159				-
Lease liability			85,899				-
UNICAP			168,936				-
Total deferred tax assets			5,144,215				559,921
Deferred tax liabilities:
Property and equipment, net			(609,261	)			(477,542	)
Intangibles, net			(6,608,914	)			(6,743,972	)
Prepaids			(156,053	)			(560,093	)
Right of use asset			(91,873	)			-
Other comprehensive income			(96,101	)			-
Other			-				(6,758	)
Total deferred tax liabilities			(7,562,202	)			(7,788,365	)
Net deferred tax (liabilities)			(2,417,987	)			(7,228,444	)
Less valuation allowance			-				-
Net deferred tax (liabilities)		$	(2,417,987	)		$	(7,228,444	)

Schedule of Unrecognized Tax Benefits

Schedule of Unrecognized Tax Benefits

		December 31,
		2022				2021
Unrecognized tax benefits at the beginning of the year		$	1,067,853			$	447,831
Gross increases - current year tax positions			1,045,590				770,069
Gross increases - prior year tax positions			34,035				-
Gross decreases - prior year tax positions			(677,901	)			(150,047	)
Unrecognized tax benefits at end of year		$	1,469,577			$	1,067,853
Interest and penalties in year-end balance		$	34,035			$	-

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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