XML 60 R48.htm IDEA: XBRL DOCUMENT v3.25.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax benefit is as follows:

		Year ended December 31,
		2023				2024
Current:
Federal		$	1,498,219			$	6,205,464
State			132,848				914,465
			1,631,067				7,119,929
Deferred:
Federal			(20,442,502	)			(6,646,568	)
State			(5,475,931	)			(1,818,322	)
			(25,918,433	)			(8,464,890	)
		$	(24,287,366	)		$	(1,344,961	)

Schedule of Income Tax Expense (Benefit) , Federal Statutory Rate

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,
		2023				2024
Expected tax benefit		$	(20,844,385	)		$	(1,532,372	)
State income taxes, net of federal benefit			(4,320,644	)			(310,137	)
Tax rate adjustments			(112,968	)			(258,484	)
Change in valuation allowance			(3,742	)			(296,180	)
Non-deductible items			728,641				560,477
Other			265,732				491,735
		$	(24,287,366	)		$	(1,344,961	)

Schedule of Components of Deferred Tax Assets and Liabilities

Temporary differences that give rise to the components of deferred tax assets and liabilities are as follows:

		December 31,
		2023				2024
Deferred tax assets:
Allowance for credit losses		$	444,198			$	428,820
Other assets			1,515,891				2,316,033
Deferred interest			—				5,979,713
Operating lease liabilities			876,923				859,075
Other long-term liabilities			2,029,965				1,846,108
Stock-based compensation			116,052				100,499
Interest expense limitation			14,663,404				16,373,283
Net operating losses			1,100,232				253,754
Subtotal			20,746,665				28,157,285
Valuation allowance			(296,180	)			—
Total			20,450,485				28,157,285
Deferred tax liabilities:
Prepaid expenses			(167,592	)			(183,912	)
Property and equipment			(5,309,534	)			(4,320,397	)
Intangibles			(86,868,274	)			(87,400,913	)
Total			(92,345,400	)			(91,905,222	)
Net deferred tax liabilities		$	(71,894,915	)		$	(63,747,937	)

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

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

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration