General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

v3.21.2
Income Taxes (Tables) - Owl Rock Capital And Subsidiaries And Owl Rock Capital Securities LLC [Member]
12 Months Ended
Dec. 31, 2020
Income Taxes [Line Items]  
Schedule of Income tax expense (benefit)
Income tax expense (benefit) consisted of the following:
 
    
For the Years Ended
December 31,
 
    
2020
    
2019
    
2018
 
Current:
        
U.S. federal income tax (benefit)
   $ —        $ —        $ —    
State and local income tax (benefit)
         359      81      —    
Foreign income tax (benefit)
     14      —          —    
  
 
 
    
 
 
    
 
 
 
     373      81      —    
  
 
 
    
 
 
    
 
 
 
Deferred:
        
U.S. federal income tax (benefit)
     —          —          —    
State and local income tax (benefit)
     (475      159      (180
Foreign income tax (benefit)
     —          —          —    
  
 
 
    
 
 
    
 
 
 
     (475          159      (180
  
 
 
    
 
 
    
 
 
 
Total:
        
U.S. federal income tax (benefit)
     —          —          —    
State and local income tax (benefit)
     (116      240      (180
Foreign income tax (benefit)
     14      —          —    
  
 
 
    
 
 
    
 
 
 
   $ (102    $ 240    $ (180
  
 
 
    
 
 
    
 
 
 
Reconciliation of Federal Statutory Income Taxes Rate
The effective income tax rate differed from the New York City UBT rate, the most material effective income tax statutory rate, for the following reasons:
 
    
For the Years Ended
December 31,
 
    
2020
   
2019
   
2018
 
Income tax expense (benefit) at statutory rate
     (4.00 )%          4.00     (4.00 )% 
Non-taxable
income resulting from use of state and local business apportionment factors and permanent items related to compensation
         3.89     (3.28 )%          5.40
Transaction costs
             1.43
Impact of the Company’s subsidiary’s local taxes
     (0.08 )%      0.10     (8.07 )% 
Provision to return adjustments and other
     0.07     0.34     (1.27 )% 
  
 
 
   
 
 
   
 
 
 
Total effective rate
     (0.12 )%      1.16     (6.51 )% 
  
 
 
   
 
 
   
 
 
 
Schedule of Deferred Tax Assets (Liabilities) The income tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows:
 
    
December 31,
2020
    
December 31,
2019
 
Deferred tax assets:
     
Net operating losses
   $ 180      $ 162  
Deferred compensation
     496        133  
Basis difference in subsidiaries
     69        —    
Other
     55        31  
  
 
 
    
 
 
 
Total gross deferred tax assets
     800        326  
Valuation allowance
     —          —    
  
 
 
    
 
 
 
Total deferred tax assets, net
   $ 800      $ 326  
  
 
 
    
 
 
 
Deferred tax liabilities
   $ —        $ —