Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1010

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 1010
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 tax effect 
     1,863  
     3,716  
     6,462 
  
    Stock-based compensation 
     (958) 
     (1,184) 
     (2,611)
  
    Non-deductible expenses 
     1,612  
     1,629  
     1,056 
  
    Net operating loss carryback 
     –  
     –  
     – 
  
    Effect of change in tax rate 
     –  
    –  
     – 
  
    Accounting method change 
     –  
     –  
     – 
  
    Other 
     (49) 
     (1,237) 
    902 
  
    Income tax expense 
    $8,228  
    $15,754  
    $30,210 

The tax effected cumulative
temporary differences that give rise to deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

    Schedule of deferred tax assets and liabilities 

    December 31, 

    2024  
    2023 

    (In thousands) 
  
    Deferred Tax Assets: 

    Finance receivables 
    $77  
    $895 
  
    Accrued liabilities 
     703  
     1,423 
  
    NOL carryforwards 
     256  
     400 
  
    Built in losses 
     753  
     1,383 
  
    Stock compensation 
     755  
     1,131 
  
    Lease liability 
     5,846  
     883 
  
    Other 
     185  
     – 
  
    Total deferred tax assets 
    $8,575  
    $6,115 

    Deferred Tax Liabilities: 

    Pension accrual 
    $(2,015) 
    $(1,217)
  
    Lease right-of-use assets 
     (5,301) 
     (803)
  
    Furniture and equipment and other 
     (249) 
     (359)
  
    Total deferred tax liabilities 
     (7,565) 
     (2,379)
  
    Net deferred tax asset 
    $1,010  
    $3,736 

     F