Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

We intend to qualify and elect to be treated as a REIT commencing with our taxable year ended December 31, 2023 and believe that we have been organized and have operated in such a manner to qualify as a REIT for federal and state income tax purposes. As a REIT, we would generally not be subject to corporate level federal income taxes on earnings distributed to our shareholders. Accordingly, we have not included any provisions for federal income taxes related to the REIT in the accompanying consolidated financial statements for the three and six months ended June 30, 2024 and 2023.

Current income tax (expense) benefit was $(0.3) million and $0.1 million for the three months ended June 30, 2024 and 2023, respectively. Deferred income tax benefit was $0.2 million and $0.3 million for the three months ended June 30, 2024 and 2023, respectively.

Current income tax expense was $0.7 million and $0.7 million for the six months ended June 30, 2024 and 2023, respectively. Deferred income tax benefit was $0.3 million and $0.7 million for the six months ended June 30, 2024 and 2023, respectively.