Note 14 - Income Taxes

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Income Tax Disclosure [Text Block]

14. Income Taxes

The provision for income taxes reflects current taxes and deferred taxes. The effective tax rate for each of the three months ended March 31, 2024 and 2023 was 0%.

The valuation allowance against net deferred tax assets as of March 31, 2024, was $98,143, an increase of $2,886 from $95,256 as of December 31, 2023. 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.

An excess tax benefit of $1,730 and an excess tax deficiency of $544 were recognized in the provision for income taxes for the three months ended March 31, 2024 and 2023, respectively, which were offset by $1,730 and $544 of valuation allowance, respectively.