Incomes Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table details the Company’s provision for income taxes. Components of the provision for incomes taxes are as follows:

	Year ended December 31,
(in thousands)	2024			2023
Current tax:
U.S. Federal		9			(61	)
U.S. State and local		15			(47	)
	$	24		$	(108	)
Deferred tax:
U.S. Federal		(186	)		71
U.S. State and local		519			16
	$	333		$	87
Valuation Allowance		—			—
Provision for income taxes	$	357		$	21

Schedule of Effective Income Tax Rate Reconciliation

The company had an effective tax rate of 7.45% and 0.19% for the years ended December 31, 2024 and 2023, respectively. The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate was as follows:

	Year ended December 31,
	2024			2023
Statutory U.S. federal income tax rate		21.00	%		21.00	%
State tax, net of federal benefits		0.51	%		0.22	%
FICA credits		—			—
Non-deductible expenses		0.05	%		0.02	%
Gain on GKBH remaining 50% interest		(2.02	)%		—
Non-controlling interest		(18.08	)%		(20.44	)%
Disallowed Exec Com - 162(m) limit		—			—
Valuation allowance		—			—
Tax Credits		(2.80	)%		(0.61	)%
State rate change		8.68	%		0.00	%
Return to provision		0.75	%		0.00	%
Cumulative book expense on unvested RSU		(0.91	)%		0.00	%
Other		0.27	%		0.00	%
Effective tax rate		7.45	%		0.19	%

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforward that give rise to deferred tax assets and liabilities are comprised of the following:

	Year ended December 31,
(in thousands)	2024		2023
Deferred tax assets:
Net operating losses	$	-	$	-
Tax Credits		48		-
Outside basis differences		11,630		12,608
Charitable contributions carryover		-		-
State taxes		8		10
Gross deferred tax asset before valuation		11,686		12,618
Net Deferred tax asset	$	11,686	$	12,618
Net Deferred tax assets	$	11,686	$	12,618