Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 227

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 227
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. Kestrel anticipates this category of expenses increasing in line with its revenue generation. Income Taxes. Income taxes related to Kestrel Service Corporation are provided for the tax effects of transactions reported in the consolidated financial statements. The provision for income taxes for the years ended December 31, 2024 and 2023 consists of the following:

| ​                          
 Current income taxes       | ​ 
 ​ | ​ 
 ​ | 2024 
 ​    | ​ |      ​ | ​ | ​ 
 ​ | ​ 
 ​ | 2023 
 ​    | ​ | ​ | ​ | ​ 
 ​ |
|:---------------------------|:--|:--|:-----|:--|-------:|:--|:--|:--|:-----|:--|:--|:--|:--|
| Federal                    | ​ | ​ | ​    | $ | 15,734 | ​ | ​ | ​ | ​    | $ | — | ​ | ​ |
| State                      | ​ | ​ | ​    | ​ | 14,305 | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Total current              | ​ | ​ | ​    | ​ | 30,039 | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Deferred income taxes      | ​ | ​ | ​    | ​ |      ​ | ​ | ​ | ​ | ​    | ​ | ​ | ​ | ​ |
| Federal                    | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| State                      | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Total current              | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Provision for income taxes | ​ | ​ | ​    | $ | 30,039 | ​ | ​ | ​ | ​    | $ | — | ​ | ​ |

A reconciliation of the differences between the effective tax rate and the federal statutory tax rate from continuing operations for the years ended December 31, 2024 and 2023 are as follows:

| ​                                          | ​ | ​ | 2024 |   |        |   | ​ | ​ | 2023 |