Income Taxes

9 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

The income tax provision consists of the following for the nine months ended December 31, 2024 and 2023:

	Nine Months Ended
	December 31
	2024			2023
Current income tax expense:
Federal	$	322,708		$	-
State		33,012			79,123
Total current income tax expense		355,720			79,123
Deferred income tax (benefit) expense:
Federal		(94,746	)		319,848
State		(60,940	)		-
Total deferred income tax (benefit) expense		(155,686	)		319,848
Total income tax expense:	$	200,034		$	398,971

The following table summarizes our income tax expense and effective income tax rate for the nine months ended December 31 follows:

	2024			2023
Income tax expense	$	200,034		$	398,971
Effective income tax rate (1)		16	%		27	%

(1) The federal statutory rate was 21% for nine months ended December 31, 2024 and 2023.

Total income tax expense from continuing operations for the nine months ended December 31, 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.