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Income Taxes

3 Months Ended

Mar. 31, 2015

Income tax benefit was comprised of the following for the three months ended March 31, 2015 and 2014:



	For the three months ended
	March 31,
	2015			2014
LHL’s income tax benefit	$	(5,079	)	$	(6,627	)
Operating Partnership’s income tax expense	211			235
Total income tax benefit	$	(4,868	)	$	(6,392	)

The Company has estimated LHL’s income tax benefit for the three months ended March 31, 2015 by applying an estimated combined federal and state effective tax rate of 32.6% to LHL’s net loss of $15,637. From time to time, the Company may be subject to federal, state or local tax audits in the normal course of business.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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