Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 500

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 500
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 or planned to be taken in a future tax return that has not been reflected in measuring income tax expense for financial reporting purposes. 

        F-
       17

        BK TECHNOLOGIES CORPORATION

        YEARS ENDED
        DECEMBER 31, 2024 AND
       2023

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

        (in thousands, except share data and percentages)

   9. Income Taxes (Continued)
    
   A reconciliation of the beginning and ending amount of our unrecognized tax benefits is as follows:

       2024  
 Balance at January 1   - 
 Additions based on tax positions related to the current year   154 
 Additions for tax positions of prior years   1,265 
 Balance at December 31,   1,419 

   As of  December 31, 2024, the Company recorded approximately $1,419 of unrecognized tax benefits, a net increase of $1,419 from $-0- as of  December 31, 2023.  If the Company recognized its tax positions, approximately $1,419 would favorably impact the tax rate.
    
   Penalties and tax-related interest expense, of which there were no material amounts for the years ended  December 31, 2024, and 2023, are reported as a component of income tax expense (benefit).
    
   The Company files federal income tax returns, as well as multiple state and local jurisdiction tax returns. A number of years  may elapse before an uncertain tax position is audited and finally resolved. While it is often difficult to predict the final outcome or the timing of resolution on any particular uncertain tax position, the Company believes that its allowances for income taxes reflect the most probable outcome. The Company adjusts these allowances, as well as the related interest, in light of changing facts and circumstances. The resolution of a matter would be recognized as an adjustment to the provision for income taxes and the effective tax rate in the period of resolution. The calendar years 2019 through 2023 are still open to IRS examination under the statute of limitations.  The last IRS examination on the Company’s 2007 calendar year was closed with no change.

   10. Income (Loss) Per Share
    
   The following table sets forth the computation of basic and diluted loss per share:

       Years Ended December 31,  
   2024    202