Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income tax expense attributable to continuing operations

The components of income tax expense attributable to Bridge Investment Group Holdings Inc., including subsidiaries BIGRM and BPM, for the years ended December 31, 2021, 2020 and 2019 are as follows:

 

 

 

Year Ended December 31,

 

(in thousands)

 

2021

 

 

2020

 

 

2019

 

Current income taxes:

 

 

 

 

 

 

 

 

 

Federal

 

$

2,887

 

 

$

553

 

 

$

317

 

State

 

 

1,300

 

 

 

503

 

 

 

667

 

Deferred income taxes:

 

 

 

 

 

 

 

 

 

Federal

 

 

4,970

 

 

 

(50

)

 

 

1

 

State

 

 

(895

)

 

 

 

 

 

 

Total income taxes

 

$

8,262

 

 

$

1,006

 

 

$

985

 

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,

(in thousands)

 

2021

 

2020

 

2019

Federal tax at statutory rate

 

21.00%

 

21.00%

 

21.00%

State and local income tax (net of federal tax benefit)

 

0.37%

 

0.60%

 

0.70%

Income passed to noncontrolling interests

 

(19.46%)

 

(20.40%)

 

(20.70%)

Other

 

0.07%

 

0.00%

 

0.00%

Effective tax rate

 

1.98%

 

1.20%

 

1.00%

Deferred income tax assets and liabilities

The net deferred income tax assets in the consolidated and combined balance sheets include the following amounts of deferred income tax assets and liabilities as of December 31, 2021, 2020, and 2019:

 

 

 

December 31,

 

(in thousands)

 

2021

 

 

2020

 

 

2019

 

Deferred income tax assets:

 

 

 

 

 

 

 

 

 

Deferred TRA

 

$

58,962

 

 

$

 

 

$

 

Unrealized loss on securities

 

 

62

 

 

 

59

 

 

 

25

 

Loss reserve

 

 

178

 

 

 

100

 

 

 

83

 

Capital loss carryforward

 

 

9

 

 

 

10

 

 

 

7

 

Total deferred income tax assets

 

 

59,211

 

 

 

169

 

 

 

115

 

Less deferred income tax liabilities

 

 

 

 

 

 

 

 

 

Unrealized gain on securities

 

 

(1

)

 

 

(8

)

 

 

(4

)

Total deferred income tax liabilities

 

 

(1

)

 

 

(8

)

 

 

(4

)

Net deferred income tax assets

 

$

59,210

 

 

$

161

 

 

$

111