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Income Taxes (Tables)
3 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Provision

The income tax provision consists of the following for the three months ended June 30, 2024 and 2023:

 

   2024   2023 
   Three Months Ended 
   June 30 
   2024   2023 
Current income tax expense:          
Federal  $11,905   $- 
State   20,066    32,818 
Total current income tax expense   31,971    32,818 
Deferred income tax expense:          
Federal   74,615    88,683 
State   -    - 
Total deferred income tax expense   74,615    88,683 
Total income tax expense:  $106,586   $121,501 
Schedule of Reconciliation of Provision for Income Taxes

A reconciliation of the provision for income taxes to income taxes computed using the federal statutory rate for the three months ended June 30 follows:

 

   2024   2023 
Income tax expense   $106,586   $121,501 
Effective income tax rate (1)   26.8%   20.7%

 

  (1) The federal statutory rate was 21% for three months ended June 30, 2024 and 2023.

 

Total income tax expense from continuing operations for the three months ended June 30, 2024 and 2023 differed from amounts computed by applying the U.S. federal statutory tax rate to pre-tax income primarily due to state income taxes, net of federal benefit, and the impact of permanent differences between book and taxable income.