Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax benefit is as follows:

	Year ended December 31,
	2022			2023
Current:
Federal	$	265,813		$	1,498,219
State		104,598			132,848
		370,411			1,631,067
Deferred:
Federal		(10,074,570	)		(20,442,502	)
State		(8,083,275	)		(5,475,931	)
		(18,157,845	)		(25,918,433	)
	$	(17,787,434	)	$	(24,287,366	)

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,
	2022			2023
Expected tax benefit	$	(12,564,847	)	$	(20,844,385	)
State income taxes, net of federal benefit		(2,618,634	)		(4,320,644	)
Tax rate adjustments		(3,687,539	)		(112,968	)
Change in valuation allowance		(5,121	)		(3,742	)
Non-deductible items		884,241			728,641
Other		204,466			265,732
	$	(17,787,434	)	$	(24,287,366	)

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,
	2022			2023
Deferred tax assets:
Allowance for credit losses	$	476,552		$	444,198
Other assets		327,689			1,515,891
Operating lease liabilities		919,745			876,923
Other long-term liabilities		2,084,645			2,029,965
Stock-based compensation		156,677			116,052
Interest expense limitation		10,006,855			14,663,404
Net operating losses		2,215,118			1,100,232
Subtotal		16,187,281			20,746,665
Valuation allowance		(299,922	)		(296,180	)
Total		15,887,359			20,450,485
Deferred tax liabilities:
Prepaid expenses		(143,287	)		(167,592	)
Property and equipment		(5,834,727	)		(5,309,534	)
Intangibles		(107,978,326	)		(86,868,274	)
Total		(113,956,340	)		(92,345,400	)
Net deferred tax liabilities	$	(98,068,981	)	$	(71,894,915	)