that will reinstate the exemption from taxation of CIAC, for NHBPT taxes, if and when
passed. Due to these two significant items, the year-to-date results reflect a tax provision of
approximately 4.9% of pre-tax income for 2021, compared to the statutory tax rate expense
of 27.08%.
Earnings Before Interest, Taxes, Depreciation and Amortization increased in the fourth
quarter from $4.0 million in 2020 to $5.4 million in 2021, or 35.0%, due to an increase in
revenues as discussed previously, over-and-above any operating expense increases.
Earnings Before Interest, Taxes, Depreciation and Amortization for 2021 decreased
from 2020 by approximately $0.2 million, or 1.0%, again due to increased operating
expenses year-over-year, over-and-above any earned revenue increases.
