Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Summary of components of the provision (benefit) for income taxes

	December 31, 2020		December 31, 2019
Current
Federal	$	11,434	$	—
State		—		—
Deferred
Federal		(101,676)		(483)
State		—		—
Valuation allowance		101,676		483
Income tax provision		11,434		—

Summary of income tax expense differs from the amount that would have resulted from applying the federal statutory rate of 21% to pretax income from operations

	December 31, 2020		December 31, 2019
Statutory federal income tax	$	(1,748,979)	$	(483)
Change in fair value of derivative warrant liabilities		(1,450,150)		—
Financing costs - derivative warrant liabilities		(2,503)		—
Change in valuation allowance		3,213,066		483
Income tax expense	$	11,434	$	—

Summary of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities

	December 31, 2020		December 31, 2019
Deferred tax assets:
Start-up/Organization costs	$	101,676	$	315
Net operating loss carryforwards		—		168
Total deferred tax assets		101,676		483
Valuation allowance		(101,676)		(483)
Deferred tax asset, net of allowance	$	—	$	—

TOI Parent Inc.

Income Taxes

Summary of components of the provision (benefit) for income taxes

	Current		Deferred		Total
Year ended December 31, 2020:
U.S. federal	$	822,490	$	(919,164)	$	(96,674)
State and local		28,183		(424,332)		(396,149)
	$	850,673	$	(1,343,496)	$	(492,823)

	Current		Deferred		Total
Year ended December 31, 2019:
U.S. federal	$	355,245	$	697,261	$	1,052,506
State and local		203,261		127,501		330,762
	$	558,506	$	824,762	$	1,383,268

	Current		Deferred		Total
Period from September 20, 2018 through December 31, 2018:
U.S. federal	$	—	$	552,044	$	552,044
State and local		91,039		179,057		270,096
	$	91,039	$	731,101	$	822,140

	Current		Deferred		Total
Period from January 1, 2018 through September 19, 2018:
U.S. federal	$	—	$	—	$	—
State and local		132,942		(42,337)		90,605
	$	132,942	$	(42,337)	$	90,605

Summary of income tax expense differs from the amount that would have resulted from applying the federal statutory rate of 21% to pretax income from operations

					Period from		Period from
					September 20,		January 1,
					2018		2018
	Year Ended		Year Ended		through		through
	December 31,		December 31,		December 31,		September 19,
	2020		2019		2018		2018
Income tax at federal statutory rate	$	(3,110,753)	$	(554,131)	$	(246,014)	$	1,266,764
Income not subject to corporate level tax		—		—		(30,292)		(1,266,764)
State tax, net federal benefit		(982,329)		(69,370)		238,489		90,605
Fines and Penalties		—		—		—		—
Transaction costs		—		—		668,779		—
Adjustment to deferred taxes		—		138,648		—		—
Change in tax status		—		—		187,779		—
Income Tax Payable:
Change in valuation allowance		3,596,998		1,854,006		—		—
Other		3,261		14,115		3,399		—
Income tax (benefit) expense	$	(492,823)	$	1,383,268	$	822,140	$	90,605

Summary of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities

	December 31,		December 31,
	2020		2019
Deferred tax assets:
Deferred rent	$	107,988	$	57,780
Accrued Expenses		769,754		351,220
Net operating loss carryforwards		2,528,555		150,367
Management Fees (the Practice)		1,827,864		1,814,880
Impaired assets		2,086,611		—
Deferred revenue		182,467		58,348
Stock Based Compensation		68,505		26,120
Total gross deferred tax assets		7,571,744		2,458,715
Valuation allowance		(5,451,003)		(1,854,005)
Net deferred tax assets		2,120,741		604,710
Deferred tax liabilities:
Plant and equipment, principally due to differences in depreciation and capitalized interest		(1,905,646)		(1,746,345)
Management Fees (TOI Parent)		(1,827,864)		(1,814,881)
Total gross deferred liabilities		(3,733,510)		(3,561,226)
Net deferred tax liabilities	$	(1,612,769)	$	(2,956,516)

Summary of the changes in the amount of unrecognized tax benefits (excluding interest and penalties)

	December 31,		December 31,
	2020		2019
Beginning balance of unrecognized tax benefits	$	1,902,659	$	—
Additions based on tax positions related to the current year		—		1,902,659
Additions based on tax positions of prior years		—		—
Reductions due to lapse of applicable statute of limitation		—		—
Settlements		—		—
Ending balance of unrecognized tax benefits	$	1,902,659	$	1,902,659