Company: RSI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001793659-25-000047
Chunk: 60

Company: Rush Street Interactive, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 15
Chunk 60
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s of revenue$1,116 $1,064 $987 Advertising and promotions2,748 2,225 2,048 General and administrative31,424 26,731 15,656 Total share-based compensation expense$35,288 $30,020 $18,691 

9.    Income Taxes

RSILP is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, RSILP is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by RSILP is passed through to and included in the taxable income or loss of its partners, including the Company (through its ownership of the Special Limited Partner), on a pro rata basis. The Company is subject to U.S. federal income taxes and state and local income taxes with respect to its allocable share of any taxable income or loss of RSILP, as well as any stand-alone income or loss generated by the Company.Income Tax ExpenseThe components of the income tax expense are:Years EndedDecember 31,($ in thousands)202420232022Current income taxes:Federal$97 $(188)$(118)State and local46 9 (34)Foreign24,243 11,602 9,137 24,386 11,423 8,985 Deferred income taxes:Federal— — — State and local— — — Foreign180 (214)(24)180 (214)(24)Income tax expense$24,566 $11,209 $8,961 

F-31

Table of ContentsRUSH STREET INTERACTIVE, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Reconciliations of income tax expense computed at the U.S. federal statutory income tax rate to the recognized income tax expense and the U.S. statutory income tax rate to our effective tax rates are as follows:Years EndedDecember 31,($ in thousands)202420232022Net income (loss) before income taxes$31,802 $(48,846)$(125,371)Less: net income (loss) before income taxes attributable to non-controlling interest19,621 (33,820)(89,224)Net income (loss) attributable to Rush Street Interactive, Inc. before income taxes12,181 (15,026)(36,147)Income tax