13. INCOME TAXES

As of June 30, 2026, the Company had net deferred tax assets of $414, which is recorded as a deferred tax asset of $822 specific to Silvercrest which consists primarily of assets related to temporary differences between the financial statement and tax bases of intangible assets related to its acquisition of partnership units of SLP and a deferred tax liability of $408 specific to SLP which consists primarily of assets related to deferred rent expenses offset in part by amounts for differences in the financial statement and tax bases of intangible assets. Of the total net deferred taxes at June 30, 2026, $144 of the net deferred tax liabilities relate to non-controlling interests. These amounts are included in deferred tax and other liabilities on the Condensed Consolidated Statement of Financial Condition, respectively.

As of December 31, 2025, the Company had a net deferred tax asset of $1,110, which is recorded as a net deferred tax asset of $1,494 specific to Silvercrest, which consists primarily of net assets related to temporary differences between the financial statement and tax bases of intangibles related to its acquisition of partnership units of SLP and a net deferred tax liability of $384 specific to SLP which consists primarily of liabilities related to differences between the financial statement and tax bases of intangible assets.

The Company has recorded a deferred tax asset associated with net operating losses of its foreign subsidiaries in Singapore and Ireland. Realization of the deferred tax asset is contingent on the foreign subsidiaries generating future taxable income. Given the foreign subsidiaries have recently initiated operations and do not yet have a history of sales, the Company has concluded that the deferred tax asset does not currently meet the more-likely-than-not threshold for realizability. Accordingly, a full valuation allowance has been recorded with respect to the net operating losses of the Company’s foreign subsidiary in Singapore in the amount of $750 at June 30, 2026. As of December 31, 2025, the amount of the valuation allowance was $598. Additionally, a full valuation allowance has been recorded with respect to the net operating losses of the Company’s foreign subsidiary in Ireland in the amount of $151 at June 30, 2026. As of December 31, 2025, the amount of the valuation allowance was $0.

The current tax (benefit) expense was ($51) and $464 for the three months ended June 30, 2026 and 2025, respectively. Of the amount for the three months ended June 30, 2026, ($225) relates to Silvercrest’s corporate tax (benefit) expense, $174 relates to SLP’s state and local liability and $0 relates to SFS’s corporate tax expense. The deferred tax expense for the three months ended June 30, 2026 and 2025 was $599 and $596, respectively. When combined with current tax (benefit) expense, the total income tax provision for the three months ended June 30, 2026 and 2025 is $548 and $1,060, respectively. There was discrete tax expense of $98 for the three months ended June 30, 2026. The discrete tax expense was primarily attributable to nonrecurring compensation expenses. There was no material discrete tax expense for the three months ended June 30, 2025.

The current tax expense was $418 and $1,344 for the six months ended June 30, 2026 and 2025, respectively. Of the amount for the six months ended June 30, 2026, $27 relates to Silvercrest’s corporate tax expense, $391 relates to SLP’s state and local liability and $0 relates to SFS’s corporate tax expense. The deferred tax expense for the six months ended June 30, 2026 and 2025 was $647 and

$890, respectively. When combined with current tax expense, the total income tax provision for the six months ended June 30, 2026 and 2025 is $1,065 and $2,234, respectively. There was discrete tax expense of $234 for the six months ended June 30, 2026. The discrete tax expense was primarily attributable to nonrecurring compensation expenses. There was no material discrete tax expense for the six months ended June 30, 2025.

The current tax expense decreased from the comparable period in 2025 mainly due to a reduction in profitability.

Of the total current tax expense for the three months ended June 30, 2026 and 2025, $62 and $92, respectively, relates to non-controlling interests. Of the deferred tax expense for the three months ended June 30, 2026 and 2025, $4 and $5, respectively, relates to non-controlling interests. When combined with current tax expense, the total income tax provision for the three months ended June 30, 2026 and 2025 related to non-controlling interests is $66 and $97, respectively.

Of the total current tax expense for the six months ended June 30, 2026 and 2025, $139 and $164, respectively, relates to non-controlling interests. Of the deferred tax expense for the six months ended June 30, 2026 and 2025, $9 and $9, respectively, relates to non-controlling interests. When combined with current tax expense, the total income tax provision for the six months ended June 30, 2026 and 2025 related to non-controlling interests is $148 and $173, respectively.

In the normal course of business, the Company is subject to examination by federal, state, and local tax regulators. As of June 30, 2026, the Company’s U.S. federal income tax returns for the years 2022 through 2026 are open under the normal three-year statute of limitations and therefore subject to examination.

The guidance for accounting for uncertainty in income taxes prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. During the three and six months ended June 30, 2026, the Company has reserved a total of $8 and $15, respectively, related to unrecognized tax benefits. When added to amounts recorded in the prior year, the total reserve as of June 30, 2026 is $333. If recognized, the above tax benefits would reduce the annual effective rate. The Company believes the liability established for unrecognized tax benefits is adequate in relation to the potential for additional assessments. The Company will reassess these amounts annually. The Company did not have any reserve related to unrecognized tax benefits as of June 30, 2025.

The unrecognized tax benefits are recorded in Deferred tax and other liabilities in the Condensed Consolidated Statements of Financial Condition.