Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of deferred tax assets and liabilities

December 31,

December 31,

    

2023

    

2022

 

Deferred tax assets:

Accruals and reserves

$

574

$

631

Deferred rent credit

115

146

Depreciation and amortization

55

38

Total deferred tax assets

744

815

Deferred tax liabilities:

Depreciation and amortization

(5,974)

 

(4,604)

Total deferred tax liabilities

(5,974)

(4,604)

Net deferred tax (liabilities) asset

$

(5,230)

$

(3,789)

Schedule of provision for income taxes

Year ended December 31,

    

2023

    

2022

    

Current:

Federal

$

2,793

$

2,694

State

 

676

 

622

Foreign

 

1,372

 

1,254

 

4,841

 

4,570

Deferred:

Federal

 

32

 

(124)

State

10

(30)

Foreign

 

(425)

 

(381)

 

(383)

 

(535)

$

4,458

$

4,035

Effective Tax Rate

 

26.6

%  

 

24.4

%  

Schedule of difference between total tax expense and the amount computed by applying the U.S. statutory federal income tax rate to income before income taxes

Year ended December 31,

 

    

2023

    

2022

 

Statutory rate applied to pretax income

$

3,524

$

3,472

Other permanent items

569

156

State income taxes, net of federal income tax benefit

 

542

 

468

Acquisition related costs

132

Other items

 

 

11

Dividends

(3)

(9)

GILTI, net of foreign tax credits

(11)

(50)

Foreign income taxes (under) over U.S. statutory rate

 

(46)

 

137

Stock compensation

(249)

(150)

Income tax expense

$

4,458

$

4,035

Schedule of components of income before income taxes

Year ended December 31,

 

    

2023

2022

 

United States

$

11,990

$

12,968

Foreign

 

4,791

 

3,564

$

16,781

$

16,532