INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Federal and State Income Tax Expense from Continuing Operations

The Company’s Federal and state income tax expense (benefit) from continuing operations for the three months ended March 31, 2015 and 2014 is summarized in the following table (in thousands):

	Three Months Ended   March 31,
	2015		2014
Current
Federal	$	—	$	—
State	1		783
Total current	1		783
Deferred
Federal	1,628		2,396
State	299		312
Total deferred	1,927		2,708
Total income tax expense (benefit)	$	1,928	$	3,491

Reconciliation of the Statutory Rate to the Effective Income Tax Rate

The Company’s reconciliation of the statutory rate from continuing operations to the effective income tax rate for the three months ended March 31, 2015 and 2014 is summarized as follows (in thousands):

	Three Months Ended   March 31,
	2015			2014
Tax benefit at statutory rate	$	(4,892	)	$	(7,670	)
State tax expense (benefit), net of Federal taxes	—			509
Valuation allowance changes affecting income tax expense	6,781			10,601
Non-deductible transaction costs and other	39			51
Income tax expense (benefit)	$	1,928		$	3,491