MILLER INDUSTRIES INC TN

**8.**INCOME TAXES

The following table summarizes income/(loss) before income taxes, including intercompany amounts:

The following table presents the significant components of the income tax provision:

The following table presents a reconciliation of income taxes calculated at the statutory rate and the provision for income taxes:

The following table shows significant components of our deferred tax assets and liabilities:

Deferred tax assets represent the future tax benefit of future deductible differences and, if it is more likely than not that a tax asset will not be realized, a valuation allowance is required to reduce the recorded deferred tax assets to net realizable value. The Company has evaluated positive and negative evidence to assess the realizability of its deferred taxes. Based on the evidence, the Company believes it is more likely than not that its deferred tax assets will be realizable. Accordingly, the Company has not included a valuation allowance against its deferred tax assets at this time.

We do not currently have plans to repatriate undistributed foreign earnings to the United States and have not determined any timeline or amount for any such future distributions.

As of December 31, 2024 and 2023, the Company hadno federal net operating loss carryforwards, and a state net operating loss carryforward of approximately $8.9 million.

The Company is subject to United States federal income taxes, as well as income taxes in various states and foreign jurisdictions. The Company’s 2020 and later tax years remain open to examination by the tax authorities. With few exceptions, as of December 31, 2024, the Company is no longer subject to U.S. federal, state, or non-U.S. income tax examination prior to 2020.