Quarterly report pursuant to Section 13 or 15(d)

DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME (Tables)

v3.24.3
DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME (Tables)
9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Taxable Income and to Total Distributions Declared to Common Stock Reconciliation
Listed below is a reconciliation of “Net increase in net assets resulting from operations” to taxable income and to total distributions declared to common stockholders for the nine months ended September 30, 2024 and 2023.
Nine Months Ended September 30,
2024 2023
(estimated, dollars in thousands)
Net increase in net assets resulting from operations $ 36,089  $ 44,869 
Net unrealized (appreciation) depreciation 24,656  (30,415)
Income tax provision 6,150  3,189 
Pre-tax book income not consolidated for tax purposes (9,867) (676)
Book income and tax income differences, including debt origination, structuring fees, dividends, realized gains and changes in estimates (9,989) 20,099 
Estimated taxable income (1) 47,039  37,066 
Taxable income earned in prior year and carried forward for distribution in current year 14,745  20,674 
Taxable income earned prior to period end and carried forward for distribution next period (32,538) (29,705)
Dividend accrued as of period end and paid in the following period 14,478  14,002 
Total distributions accrued or paid to common stockholders $ 43,724  $ 42,037 
________________
(1)MSIF’s taxable income for each period is an estimate and will not be finally determined until MSIF files its tax return for each year. Therefore, the final taxable income, and the taxable income earned in each period and carried forward for distribution in the following period, may be different than this estimate.
Schedule of Provision for Income Taxes MSC Income Fund’s provision for income taxes was comprised of the following for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
(dollars in thousands)
Current tax expense (benefit):
Federal $ 761  $ (39) $ 1,145  $ 15 
State 397  337  810  565 
Excise 491  133  570  374 
Total current tax expense 1,649  431  2,525  954 
Deferred tax expense (benefit):
Federal 652  292  3,395  2,533 
State 133  (750) 230  (298)
Total deferred tax expense (benefit) 785  (458) 3,625  2,235 
Total income tax provision (benefit) $ 2,434  $ (27) $ 6,150  $ 3,189