Note 8 - Taxes on Income |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
NOTE 8 – TAXES ON INCOME
Our income tax expense(benefit) was ($109) and $556 for the three months ended June 30, 2024 and 2023, respectively. The tax expense represented a (5.3%) effective tax rate and 10.6% effective tax rate for the three months ended June 30, 2024 and 2023, respectively. Income tax expense was $674 and $986 for six months ended June 30, 2024 and 2023, respectively. The tax expense represented a (36.8%) effective tax rate and 13.4% effective tax rate for the six months ended June 30, 2024 and 2023, respectively
The effective tax rate for the three and six months ended June 30, 2024 and 2023 differs from the U.S. statutory rate of 21% primarily due to the tax benefit of research credits offset by state tax expense and non-deductible officer compensation and a discrete tax expense in 2024 related to the difference in stock compensation expense recognized for financial reporting purposes and tax purposes upon vesting. |