Quarterly report pursuant to Section 13 or 15(d)

DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME (Tables)

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DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME (Tables)
3 Months Ended
Mar. 31, 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 three months ended March 31, 2024 and 2023.
Three Months Ended March 31,
2024 2023
(estimated, dollars in thousands)
Net increase in net assets resulting from operations $ 107,147  $ 79,592 
Book-tax difference from share-based compensation expense 4,064  2,747 
Net unrealized appreciation (40,647) (35,118)
Income tax provision 10,940  8,114 
Pre-tax book (income) loss not consolidated for tax purposes (11,566) 15,791 
Book income and tax income differences, including debt origination, structuring fees, dividends, realized gains and changes in estimates 19,264  5,824 
Estimated taxable income (1) 89,202  76,950 
Taxable income earned in prior year and carried forward for distribution in current year 56,142  49,216 
Taxable income earned prior to period end and carried forward for distribution next period (78,878) (76,289)
Dividend payable as of period end and paid in the following period 20,606  18,036 
Total distributions accrued or paid to common stockholders $ 87,072  $ 67,913 
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(1)MSCC’s taxable income for each period is an estimate and will not be finally determined until MSCC 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 Components of Income Tax Provision Main Street’s provision for income taxes was comprised of the following for the three months ended March 31, 2024 and 2023:
Three Months Ended March 31,
2024 2023
(dollars in thousands)
Current tax expense:
Federal $ 329  $ 140 
State 880  857 
Excise 922  740 
Total current tax expense 2,131  1,737 
Deferred tax expense:
Federal 7,652  5,806 
State 1,157  571 
Total deferred tax expense 8,809  6,377 
Total income tax provision $ 10,940  $ 8,114