INCOME TAXES

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 10. INCOME TAXES

The Company will generally not be subject to U.S. federal income tax on its REIT taxable income to the extent that it distributes its

REIT taxable income to its stockholders and satisfies the ongoing REIT requirements, including meeting certain asset, income and

stock ownership tests. A REIT must generally distribute at least 90% of its REIT taxable income, determined without regard to the

deductions for dividends paid and excluding net capital gain, to its stockholders, annually to maintain REIT status. An amount equal to

the sum of which 85% of its REIT ordinary income and 95% of its REIT capital gain net income, plus certain undistributed income from

prior taxable years, must be distributed within the taxable year, in order to avoid the imposition of an excise tax. The remaining

balance may be distributed up to the end of the following taxable year, provided the REIT elects to treat such amount as a prior year

distribution and meets certain other requirements.