INCOME TAX |
9 Months Ended |
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Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX |
NOTE 9 — INCOME TAX The quarterly provision for or benefit from income taxes is separately computed at an estimated annual effective tax rate to the year-to-date pre-tax income (loss) and other comprehensive income.
For the three and nine months ended September 30, 2021, the Company recorded income tax provision of $232,000 and $58,000, respectively. For three and nine month ended September 30, 2020, the Company recorded income tax provision of $293,000 and $80,000. The Company did not record a provision for federal income tax due to its net operating loss carryforwards. The Company established a full valuation allowance against its federal and state deferred tax asset and there was no unrecognized tax benefit as of September 30, 2021 and 2020. |