Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 305

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 305
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4 and 2023 was earned in accordance with the respective capacity distribution agreements. Note 5. Income Taxes Income taxes related to Kestrel Service Corporation are provided for the tax effects of transactions reported in the consolidated financial statements. The provision for income taxes for the years ended December 31, 2024 and 2023 consists of the following:

| ​                          
 Current income taxes       | ​ 
 ​ | ​ 
 ​ | 2024 
 ​    | ​ |      ​ | ​ | ​ 
 ​ | ​ 
 ​ | 2023 
 ​    | ​ | ​ | ​ | ​ 
 ​ |
|:---------------------------|:--|:--|:-----|:--|-------:|:--|:--|:--|:-----|:--|:--|:--|:--|
| Federal                    | ​ | ​ | ​    | $ | 15,734 | ​ | ​ | ​ | ​    | $ | — | ​ | ​ |
| State                      | ​ | ​ | ​    | ​ | 14,305 | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Total current              | ​ | ​ | ​    | ​ | 30,039 | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Deferred income taxes      | ​ | ​ | ​    | ​ |      ​ | ​ | ​ | ​ | ​    | ​ | ​ | ​ | ​ |
| Federal                    | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| State                      | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Total deferred             | ​ | ​ | ​    | ​ |      — | ​ | ​ | ​ | ​    | ​ | — | ​ | ​ |
| Provision for income taxes | ​ | ​ | ​    | $ | 30,039 | ​ | ​ | ​ | ​    | $ | — | ​ | ​ |

A valuation allowance must be established for any portion of the deferred tax asset which is believed not to be realizable. Management reviews the need for a valuation allowance based on anticipated future earnings, reversal of future taxable differences, the available carryback and carryforward periods, and tax planning strategies that are prudent and feasible. In management