Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of current and deferred income tax (expense) benefit

	Years ended December 31,
	2019		2018		2017
Current:
Federal	$	(1,251,000)	$	(2,461,000)	$	(1,835,000)
State		(122,000)		(683,000)		(562,000)
		(1,373,000)		(3,144,000)		(2,397,000)
Deferred:
Federal		(219,000)		929,000		4,353,000
State		(194,000)		37,000		(67,000)
		(413,000)		966,000		4,286,000
Total income tax (expense) benefit	$	(1,786,000)	$	(2,178,000)	$	1,889,000

Schedule of reconciliation of the effective income tax rate with the applicable statutory federal income tax rate

	Years ended December 31,
	2019		2018		2017
Federal tax at statutory rate	21.0	%	21.0	%	35.0	%
State taxes, net of federal benefit	65.8	%	19.8	%	8.8	%
Valuation allowance	(62.4)	%	(14.2)	%	(2.5)	%
Tax Cuts and Jobs Act	—		—		(69.3)	%
Other	0.1	%	(2.6)	%	(0.9)	%
Effective income tax rate	24.5	%	24.0	%	(28.9)	%

Schedule of deferred income tax assets and liabilities

	2019		2018
Deferred income tax assets:
Accruals not currently deductible for income taxes	$	1,905,000	$	1,524,000
Net operating loss carry-forwards		2,989,000		7,602,000
Total deferred income tax assets		4,894,000		9,126,000
Valuation allowance		(2,462,000)		(7,005,000)
Net deferred income tax assets		2,432,000		2,121,000
Deferred income tax liabilities:
Depreciation		(11,108,000)		(10,492,000)
Total deferred income tax liabilities		(11,108,000)		(10,492,000)
Net deferred income tax liability	$	(8,676,000)	$	(8,371,000)
Amounts recognized in the consolidated balance sheets:
Noncurrent deferred income tax liabilities	$	(8,676,000)	$	(8,371,000)