Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 236

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 236
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 INCOME TAXES (continued) |

Deferred Taxes Deferred tax assets and liabilities are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates. Temporary differences, and net operating loss carryforwards that give rise to deferred tax assets and liabilities are summarized as follows as of December 31:

| ​                                         
 ​                                         
 Deferred tax assets/(liabilities):        | ​ | ​    
 2023 
 ​    |   ​ | ​ | ​    
 2022 
 ​    |   ​ |
|:------------------------------------------|:--|:-----|----:|:--|:-----|----:|
| Property, and equipment, net              | ​ | $    | -92 | ​ | $    |  79 |
| IRC 163(j) interest limitation, carryover | ​ |      | 190 | ​ |      |  47 |
| Net operating loss                        | ​ |      | 832 | ​ |      | 391 |
| Other                                     | ​ |      |  63 | ​ |      |  56 |
| Total                                     | ​ |      | 993 | ​ |      | 573 |
| Valuation Allowance                       | ​ |      |   — | ​ |      |   — |
| Net deferred tax liability                | ​ | $    | 993 | ​ | $    | 573 |

Net Operating Losses At December 31, 2023, the Company and its subsidiaries had federal and state net operating loss carry forwards of approximately $4.4 million. These carry forward losses are available to offset future U.S. federal and state taxable income and are not subject to IRC Section 382 limitations. All federal net operating losses being carried forward were incurred in tax years beginning after December 31, 2017, and therefore will carry forward indefinitely. Valuation Allowance The Company provides for recognition of deferred tax assets if the realization of such assets is more likely than not to occur in accordance with accounting standards that address income taxes. Significant management judgment is required in determining the period in which the reversal of a valuation allowance should occur. The Company has considered all available evidence, both positive and negative, such as historical levels of income and future forecasts of taxable income amongst other items, in determining its valuation allowance and has concluded that a valuation allowance is not warranted. Unrecognized Tax Benefits Based on the Company’s evaluation, it has been concluded that there are no material uncertain tax positions requiring recognition in