Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Note 9 – Income Taxes

For the three months ended June 30, 2024, the Company recognized expense from income taxes of $20,590, representing an effective tax rate of (0.3%). For the six months ended June 30, 2024, the Company recognized expense from income taxes of $43,354, representing an effective tax rate of (0.3%). The Company’s effective tax rate will generally differ from the U.S. Federal statutory rate of 21.0%, primarily due to the full valuation allowance as well as state taxes, permanent items, and discrete items. For the three and six months ended June 30, 2023, the Company recognized a benefit from income taxes of $2,238,320 and $4,498,131, respectively.