Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.22.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Summary of Components of Income Tax Expense
The components of income tax expense attributable to Bridge Investment Group Holdings Inc., including subsidiaries BIGRM and BPM, for the years ended December 31, 2022, 2021, and 2020 are as follows (in thousands):
Year Ended December 31,
2022 2021 2020
Current income taxes:
Federal $ 6,342  $ 2,887  $ 553 
State 2,982 1,300 503
Deferred income taxes:
Federal 9,385 4,970 (50)
State 3,486 (895) 0
Total income taxes
 $ 22,195  $ 8,262  $ 1,006 
Summary of U.S. Statutory Income Tax Rate to the Company's Effective Tax Rate A reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate is as follows:
Year Ended December 31,
2022 2021 2020
Federal tax at statutory rate
 21.00  % 21.00  % 21.00  %
State and local income tax (net of federal tax benefit)
 1.73  % 0.37  % 0.60  %
Income passed to noncontrolling interests
 (17.44) % (19.46) % (20.40) %
Other
 2.24  % 0.07  % —  %
Effective tax rate
 7.53  % 1.98  % 1.20  %
Summary of Deferred income Tax Assets and Liabilities
The net deferred income tax assets in the consolidated balance sheets include the following amounts of deferred income tax assets and liabilities as of December 31, 2022 and 2021 (in thousands):
Year Ended December 31,
2022 2021
Deferred income tax assets:
Deferred TRA $ 53,915  $ 58,962 
Unrealized loss on securities 110 62
Loss reserve 348 178
Capital loss carryforward 14 9
Total deferred income tax assets 54,387 59,211
Less deferred income tax liabilities
Unrealized gain on securities —  (1)
Total deferred income tax liabilities —  (1)
Net deferred income tax assets $ 54,387  $ 59,210