XML 26 R14.htm IDEA: XBRL DOCUMENT v3.4.0.3
INCOME TAXES
3 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES

The Company’s federal and state income tax provision from continuing operations for the three months ended March 31, 2016 and 2015 is summarized in the following table (in thousands):

 
Three Months Ended 
 March 31,
 
2016
 
2015
Current
 
 
 
Federal
$

 
$

State

 
1

Total current

 
1

Deferred
 

 
 

Federal
17

 
1,628

State
6

 
299

Total deferred
23

 
1,927

Total income tax provision
$
23

 
$
1,928



The income tax provision recognized for the three months ended March 31, 2016 is a result of a nominal increase in the deferred tax liability.

The Company’s reconciliation of the statutory rate from continuing operations to the effective income tax rate for the three months ended March 31, 2016 and 2015 is summarized as follows (in thousands):

 
Three Months Ended 
 March 31,
 
2016
 
2015
Tax benefit at statutory rate
$
(3,411
)
 
$
(4,892
)
State tax benefit, net of federal taxes
(16
)
 

Valuation allowance changes affecting income tax provision
3,388

 
6,781

Other
62

 
39

Income tax provision
$
23

 
$
1,928