Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 387

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 387
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,827   108,208 
         
 Deferred tax assets:         
 Current expected credit losses   1,708   1,986 
 Compensated absences   -   168 
 Self-insurance allowances   1,063   1,674 
 Interest   1,509   - 
 Other   -   49 
         
 Total deferred tax assets   4,280   3,877 
         
 Net deferred tax liability  $92,547  $104,331 

   The reconciliation between the effective income tax rate and the statutory Federal income tax rate for the years ended  December 31, 2024, 2023 and 2022 is presented in the following table:

       2024    2023    2022  
   (in thousands)  
   Amount    Percent    Amount    Percent    Amount    Percent  
                         
 Federal income tax at statutory rate  $(8,725)  21.0  $6,002   21.0  $24,991   21.0 
 Nondeductible per diem and meals   247   (0.6)  371   1.3   -   - 
 State income taxes/other, net   (1,273)  3.1   3,790   13.3   3,344   2.8 
                         
 Total income tax expense  $(9,751)  23.5  $10,163   35.6  $28,335   23.8 

   The provision (benefit) for income taxes consisted of the following:

       2024    2023    2022  
   (in thousands)  
 Current:             
 Federal  $945  $4,697  $10,673 
 State   1,089   2,580   3,121 
 Total current income tax provision   2,034   7,277   13,794 
 Deferred:             
 Federal   (9,248)  944   12,920 
 State   (2,537)  1,942   1,621 
 Total deferred income tax provision