iAnthus Capital Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

Income Taxes

6 Months Ended

Jun. 30, 2021

Note 6 - Income Taxes

The following table summarizes the Company’s income tax expense and effective tax rates for the three and six months ended June 30, 2021, and 2020:


	Three Months Ended						Six Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Loss before income taxes	$	(7,372	)	$	(19,568	)	$	(19,533	)	$	(254,503	)
Income tax expense		7,884			5,257			15,175			6,663

Effective tax rate		(106.9	)%		(26.9	)%		(77.7	)%		(2.6	)%

The effective tax rate may vary significantly from period to period and can be influenced by many factors. These factors include, but are not limited to, changes to the statutory rates in the jurisdictions where the Company has operations and changes in the valuation of deferred tax assets and liabilities. The difference between the

ffective tax rate and the federal statutory rate of 21% primarily relates to certain

non-deductible

items, state and local income taxes and the valuation allowance for deferred tax assets of

non-cultivator

entities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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