v3.26.1
INCOME TAX (Tables)
3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income Taxes
The income tax provision for the Company and TRS1 consisted of the following for the three months ended March 31, 2026:
Three Months Ended
March 31, 2026
Net investment income taxes:
Current:
Federal$86,090 
State23,278 
Excise tax— 
Total current income tax expense (benefit)109,368 
Investment valuation related taxes:
Total deferred income tax expense (benefit)517,227 
Total income tax expense (benefit), including excise tax$626,595 
The income tax provision for the Company and TRS1 pre-Conversion consisted of the following for the three months ended March 31, 2025:
Three Months Ended
March 31, 2025
Current:
Federal$100,000 
State64,981 
Total current income tax expense (benefit)164,981 
Total deferred income tax expense (benefit)(52,575)
Excise tax— 
Total income tax expense (benefit), including excise tax$112,406