Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of deferred tax assets and liabilities

December 31,

December 31,

    

2022

    

2021

 

Deferred tax assets:

Accruals and reserves

$

631

$

501

Deferred rent credit

146

163

Depreciation and amortization

38

24

Total deferred tax assets

815

688

Deferred tax liabilities:

Accruals and reserves

(67)

Depreciation and amortization

(4,604)

 

(2,212)

Total deferred tax liabilities

(4,604)

(2,279)

Net deferred tax liabilities

$

(3,789)

$

(1,591)

Schedule of provision (benefit) for income taxes

Year ended December 31,

 

    

2022

    

2021

 

Current:

Federal

$

2,694

$

1,692

State

 

622

 

572

Foreign

 

1,254

 

674

 

4,570

 

2,938

Deferred:

Federal

 

(124)

 

(45)

State

(30)

(12)

Foreign

 

(381)

 

285

 

(535)

 

228

$

4,035

$

3,166

Effective Tax Rate

 

24.4

%  

 

25.6

%

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,

 

    

2022

    

2021

 

Statutory rate applied to pretax income

$

3,472

$

2,596

State income taxes, net of federal income tax benefit

 

468

 

442

Other permanent items

156

19

Foreign income taxes over U.S. statutory rate

 

137

 

(18)

Other items

 

11

 

(36)

Adjustment for foreign rate change

353

Dividends

(9)

(17)

GILTI, net of foreign tax credits

(50)

(38)

Stock compensation

(150)

(135)

Income tax expense

$

4,035

$

3,166

Schedule of components of income before income taxes

Year ended December 31,

 

    

2022

    

2021

 

United States

$

12,968

$

9,355

Foreign

 

3,564

 

3,009

$

16,532

$

12,364

Schedule of activity related to unrecognized tax benefits

    

2021

Balance as of January 1

$

49

Additions related to prior period tax positions

-

Reductions related to settlements with tax authorities

(49)

Balance as of December 31

$

-