Note 15 - Income Taxes

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Income Tax Disclosure [Text Block]

15. Income Taxes

The (provision) benefit for income taxes reflects current taxes, deferred taxes, and withholding taxes. The effective tax rate for the three months ended  March 31, 2023 and 2022 was 0% and 1%, respectively.

The valuation allowance against net deferred tax assets as of March 31, 2023, was $86,804, an increase of $3,804 from $83,000 as of December 31, 2022. The Company continues to provide for a valuation allowance to offset its net deferred tax assets until such time it is more likely than not the tax assets or portions thereof will be realized.

Excess tax deficiency of $544 and excess tax benefit of $5 were recognized in the provision for income taxes for the three months ended March 31, 2023 and 2022, respectively, which were offset by $544 and $5 of valuation allowance, respectively.