INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes for the years ended December 31, 2022, 2021, and 2020 consisted of the following:


	Year Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Income Tax Expense (benefit)
Current federal tax expense (benefit)
Federal	$	(471)	$	(115)	$	1,732
State	(55)		949		768
Deferred tax (benefit)
Federal	(2,179)		1,473		1,706
State	(180)		136		227
Valuation allowance	—		—		(1,182)
Total	$	(2,885)	$	2,443	$	3,251

Schedule of Deferred Tax Assets and Liabilities

A summary of deferred tax assets and liabilities as of December 31, 2022 and 2021 is as follows:


	Year Ended
	December 31, 2022		December 31, 2021
Deferred tax assets:
Net operating losses and attributes carryovers	$	7,655	$	—
Deferred right to use lease liabilities	12,200		11,573
Stock based compensation	1,177		974
Accumulated depreciation and amortization	27,288		—
Inventory reserves	—		239
Warranty reserves	—		128
Accruals and other	2,008		1,266
	50,328		14,180
Deferred tax liabilities:
Deferred right to use lease assets	(11,638)		(11,147)
Accumulated depreciation and amortization	—		(5,392)
	(11,638)		(16,539)
Deferred tax asset (liability)	38,689		(2,359)
Valuation Allowance	(38,689)		—
Deferred tax asset (liability), net	$	—	$	(2,359)

Schedule of Effective Income Tax Rate Reconciliation

The differences between the U.S. Federal statutory income tax rate and the Company’s effective tax rate were as follows for the years ended December 31, 2022 and 2021, and 2020:


	Years Ended December 31,
	2022		2021		2020
Federal statutory tax rate	21	%	21	%	21	%
State and local income taxes (net of federal tax benefit)	5	%	7	%	6	%
	26	%	28	%	27	%

Other	—	%	—	%	6	%
Stock-based compensation	(1)	%	(8)	%	7	%
Return to provision adjustments	0	%	(4)	%	12	%
Valuation allowance	(23)	%	—	%	(14)	%
	2	%	16	%	38	%