Black Rifle Coffee Company Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Components of the Provision for Income Taxes

The components of the provision for income tax (benefit) provision are as follows (dollars in thousands):


	Year Ended December 31,
	2024		2023		2022
Current expense
Federal	$	—	$	—	$	—
State	172		185		367
Total current expense	172		185		367
Deferred expense
Federal	—		—		—
State	—		—		—
Total deferred expense	—		—		—
Total income tax (benefit) provision	$	172	$	185	$	367

Schedule of Reconciliation of the Federal Statutory Income Tax Rate to the Effective Tax Rate

Reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate is as follows (dollars in thousands):


	December 31, 2024				December 31, 2023				December 31, 2022
	Amount		Rate		Amount		Rate		Amount		Rate
Expected U.S. federal income taxes at statutory rate	$	(1,570)	21.0	%	$	(11,872)	21.0	%	$	(70,912)	21.0	%
State Taxes	150		(2.0)	%	30		(0.1)	%	(72)		—	%
Loss attributable to non-controlling interests	1,088		(14.5)	%	8,366		(14.8)	%	54,050		(16.0)	%
Valuation allowance	504		(6.8)	%	3,649		(6.4)	%	17,280		(5.1)	%
Other	—		—	%	12		—	%	21		—	%
Income tax expense (benefit)	$	172	(2.3)	%	$	185	(0.3)	%	$	367	(0.1)	%

Schedule of Components of Deferred Tax Assets / (Liabilities)

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below (dollars in thousands):


	December 31,
	2024		2023		2022
Deferred tax assets:
Investment in partnership	$	88,506	$	83,483	$	78,801
Net operating losses	14,330		11,209		5,212
Other	1,048		438		71
Total deferred tax assets before valuation allowance	103,884		95,130		84,084
Less: valuation allowance	(103,884)		(95,130)		(84,084)
Deferred tax assets - net of valuation allowance	—		—		—

Deferred tax liabilities	—		—		—
Total deferred tax liabilities	—		—		—
Deferred tax (liabilities) assets, net	$	—	$	—	$	—