Income Taxes	9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 — Income Taxes The Company’s effective tax rate was (391.5)% and 28.4% for the three months ended September 30, 2024 and 2023, respectively. The Company’s effective tax rate was (13.8)% and 55.5% for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate differs from the statutory tax rate of 21.0% primarily due to the valuation allowance on the deferred tax assets and non-deductible transaction costs.

Income Taxes

9 Months Ended

Sep. 30, 2024

Note 10 — Income Taxes

The Company’s effective tax rate was (391.5)% and 28.4% for the three months ended September 30, 2024 and 2023, respectively. The Company’s effective tax rate was (13.8)% and 55.5% for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate differs from the statutory tax rate of 21.0% primarily due to the valuation allowance on the deferred tax assets and non-deductible transaction costs.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Fortune Rise Acquisition Corp 10-Q