XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Taxes |
(15) | Income Taxes
Income tax benefit is as follows:
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | (5,056,987 | ) |  | $ | — |
State |  |  | — |  |  |  | — |
|  |  | (5,056,987 | ) |  |  | — |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 982,431 |  |  |  | (3,040,141 | )
State |  |  | (1,111,436 | ) |  |  | (2,281,489 | )
|  |  | (129,005 | ) |  |  | (5,321,630 | )
|  | $ | (5,185,992 | ) |  | $ | (5,321,630 | )
Income tax benefit differs from the amounts that would result from applying the federal statutory rate of 21% to the Company’s loss before taxes as follows:
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |
Expected tax benefit |  | $ | (5,018,846 | ) |  | $ | (1,412,137 | )
State income taxes, net of federal benefit |  |  | (878,034 | ) |  |  | (353,270 | )
Tax rate adjustments |  |  | (109,421 | ) |  |  | (822,982 | )
Change in valuation allowance |  |  | (3,074 | ) |  |  | (3,097 | )
Non-deductible items |  |  | 535,080 |  |  |  | 837,045 |
Non-taxable items |  |  | — |  |  |  | (3,412,500 | )
Other |  |  | 288,303 |  |  |  | (154,689 | )
|  | $ | (5,185,992 | ) |  | $ | (5,321,630 | )
Temporary differences that give rise to the components of deferred tax assets and liabilities are as follows:
|  | December 31, |
|  | 2020 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 1,330,493 |  |  | $ | 451,685 |
Other assets |  |  | (474,351 | ) |  |  | 274,357 |
Operating lease liabilities |  |  | 765,531 |  |  |  | 759,130 |
Other long-term liabilities |  |  | 2,928,717 |  |  |  | 2,743,597 |
Stock-based compensation |  |  | 138,809 |  |  |  | 223,960 |
Interest expense limitation |  |  | — |  |  |  | 5,097,723 |
Net operating losses |  |  | 1,398,872 |  |  |  | 3,221,884 |
Subtotal |  |  | 6,088,071 |  |  |  | 12,772,336 |
Valuation allowance |  |  | (308,140 | ) |  |  | (305,043 | )
Total |  |  | 5,779,931 |  |  |  | 12,467,293 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Prepaid expenses |  |  | (85,946 | ) |  |  | (465,976 | )
Property and equipment |  |  | (4,051,119 | ) |  |  | (3,308,562 | )
Intangibles |  |  | (122,556,849 | ) |  |  | (124,382,072 | )
Total |  |  | (126,693,914 | ) |  |  | (128,156,610 | )
Net deferred tax liabilities |  | $ | (120,913,983 | ) |  | $ | (115,689,317 | )
As of December 31, 2021, the Company has federal net operating losses of $6.9 million and state net operating losses of $32.0 million. The valuation allowance relates to net operating losses and unrealized losses on investments which management has determined, more likely than not, that such losses will not be utilized. As of December 31, 2020 and 2021, the Company does not have any material unrecognized tax benefits and accordingly, has not recorded any interest or penalties related to unrecognized tax benefits. The Company and its subsidiaries file a consolidated federal income tax return and various state returns. These returns remain subject to examination by taxing authorities for all years after 2017.

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 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration