Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Reconciliation of Statutory Tax Rate to Effective Tax Rate

The following is a reconciliation of the statutory federal and state tax rates to our effective tax rate at March 31, 2022 and 2021.

Table 22.1 – Reconciliation of Statutory Tax Rate to Effective Tax Rate

	March 31, 2022		March 31, 2021
Federal statutory rate	21.0	%	21.0	%
State statutory rate, net of Federal tax effect	8.6	%	8.6	%
Differences in taxable (loss) income from GAAP income	(20.4)	%	(12.5)	%
Change in valuation allowance	2.1	%	(3.7)	%
Dividends paid deduction	(19.9)	%	(2.8)	%
Effective Tax Rate	(8.6)	%	10.6	%