Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 213

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 213
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21.0 %21.0 %Expected federal provision (benefit) for income taxes at the federal statutory income tax rate31,357 17,441 11,342 Effect of state provision (benefit) for income taxes, net of federal benefit(913)(1,971)2,034 Effect of non-deductible compensation3,470 3,376 3,292 Effect of tax deconsolidation of subsidiaries23,506 19,101 33,133 Effect of change in valuation allowance2,406 518 3,285 Effect of foreign operations(271)2,743 (18)Effect of stock-based compensation(196)(233)(556)Effect of return-to-accrual500 1,580 (509)Effect of other items1,793 501 (1,553)Tax (benefit) on income$61,652 $43,056 $50,450 Effective tax rate41.3 %51.8 %93.4 %For the year ended December 31, 2024, the Company’s effective tax rate on income was equal to 41.3%. The effective tax rate for the year ended December 31, 2024 is higher than the U.S. statutory income tax rate of 21.0% primarily from the impact of the tax deconsolidation of Fortegra and non-deductible compensation.For the year ended December 31, 2023, the Company’s effective tax rate on income was equal to 51.8%. The effective tax rate for the year ended December 31, 2023 is higher than the U.S. statutory income tax rate of 21.0% primarily from the impact of the tax deconsolidation of Fortegra and non-deductible compensation.For the year ended December 31, 2022, the Company’s effective tax rate on losses was equal to 93.4%. The effective tax rate for the year ended December 31, 2022 is higher than the U.S. statutory income tax rate of 21.0% primarily from the impact of the tax deconsolidation of Fortegra and non-deductible compensation.The table below presents the components of the Company’s net deferred tax assets and liabilities as of the respective balance sheet dates:

F-63

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024