Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of the Provision for Income Taxes
The components of the provision for income tax (benefit) provision are as follows:

December 31,
2022 2021 2020
Current expense
Federal $ —  —  — 
State 367  178  185 
Total current expense 367  178  185 
Deferred expense
Federal —  —  — 
State —  —  — 
Total deferred expense —  —  — 
Total income tax (benefit) provision $ 367  $ 178  $ 185 
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:

December 31, 2022 December 31, 2021 December 31, 2020
Amount Rate Amount Rate Amount Rate
Expected U.S. federal income taxes at statutory rate $ (70,912) 21.00  % $ (2,870) 21.00  % $ 946  21.00  %
State Taxes (72) 0.02  % 178  (1.30) % 185  4.10  %
Effect of Business Combination —  —  —  —  —  — 
Loss attributable to non-controlling interests 54,050  (16.00) % —  —  —  — 
Valuation allowance 17,280  (5.12) % —  —  —  — 
Effect due to LLC flow-through structure —  —  2,870  (21.00) % (946) (21.00) %
Other 21  (0.01) % —  —  —  — 
Income tax expense (benefit) $ 367  (0.11) % $ 178  (1.30) % $ 185  4.10  %
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:
December 31, December 31, December 31,
2022 2021 2020
Deferred tax assets:
Investment in partnership $ 78,801  $ —  $ — 
Net operating losses 5,212  —  — 
Other 71  —  — 
Total deferred tax assets before valuation allowance 84,084  —  — 
Less: valuation allowance (84,084) —  — 
Deferred tax assets - net of valuation allowance —  —  — 
Deferred tax liabilities:
—  —  — 
Total deferred tax liabilities —  —  — 
Deferred tax (liabilities) assets, net $ —  $ —  $ —