Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision (benefit) for income taxes, in the consolidated statements of operations are as follows (in thousands):

	For the years ended
	December 31, 2023		December 31, 2022
Continuing Operations
Current
Federal	$	772	$	1,040
State	284		3,543
	$	1,056	$	4,583
Deferred
Federal	(5,459)		72
State	(1,615)		(210)
	$	(7,074)	$	(138)
Income taxes from continuing operations	$	(6,018)	$	4,445

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal income tax expense (benefit) to the effective tax is as follows (in thousands):

	2023		2022
Statutory Rate - federal	$	(4,788)	$	4,811
State taxes, net of federal benefit	(1,133)		2,789
Research & development tax credit	(350)		(1,200)
Permanent differences and other	510		(601)
Income taxes from continuing operations before valuation allowance	(5,761)		5,799
Change in valuation allowance	(257)		(1,354)
Income tax expense (benefit)	$	(6,018)	$	4,445
Total	$	(6,018)	$	4,445

Schedule of Deferred Tax Assets and Liabilities

The tax effects of the primary “temporary differences” between values recorded for assets and liabilities for financial reporting purposes and values utilized for measurement in accordance with tax laws giving rise to our deferred tax assets are as follows (in thousands):

	For the years ended
	December 31, 2023		December 31, 2022
Net operating loss and capital loss carryforward	$	4,649	$	1,324
Right of use asset	(1,464)		(1,466)
Other	4,972		2,684
Capital lease obligations	1,464		1,466
Depreciation	(479)		(705)
Amortization	(1,612)		(2,703)
Tax credit	350		—
Valuation allowance	(567)		(824)
Total	7,313		(224)