INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Effective Income Tax Reconciliation

The provision for income taxes differs from the amount of income tax determined by applying the applicable statutory federal income tax rate (21%) to pretax income from continuing operations as a result of the following differences:

	For the year ended December 31,
	2021		2020		2019
Statutory federal income tax provision	$	(9,241)	$	(37,365)	$	(1,208)
Adjustment for nontaxable income for Hersha Hospitality Trust	13,065		29,636		1,419
State income taxes, net of federal income tax effect	(1,367)		(2,720)		456
Non-deductible expenses, tax credits, and other, net	361		(1,317)		(575)
Changes in valuation allowance	(1,980)		23,095		—
Total income tax expense	$	838	$	11,329	$	92

Components Of The Company's Income Tax Expense (Benefit)

The components of the Company’s income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 were as follows:

	For the year ended December 31,
	2021		2020		2019
Income tax expense (benefit):
Current:
Federal	$	—	$	(51)	$	(60)
State	838		(10)		464
Deferred:
Federal	—		7,688		(302)
State	—		3,702		(10)
Total	$	838	$	11,329	$	92

Components Of Consolidated TRS's Deferred Tax Assets

The components of consolidated TRS’s net deferred tax asset as of December 31, 2021 and 2020 were as follows:

	As of December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	19,084	$	21,569
Accrued expenses and other	2,002		1,493
Tax credit carryforwards	355		355
Depreciation and amortization	171		174
Total gross deferred tax assets	21,612		23,591
Valuation allowance	(21,612)		(23,591)
Total Net deferred tax assets	$	—	$	—

Taxability Of Common And Preferred Share Distributions

The following table sets forth certain per share information regarding the Company’s common and preferred share distributions for the years ended December 31, 2021, 2020 and 2019.

	2021		2020		2019
Preferred Shares - 6.875% Series C
Ordinary income	0.00	%	0.00	%	100.00	%
Return of Capital	0.00	%	100.00	%	0.00	%
Capital Gain Distribution	100.00	%	0.00	%	0.00	%
Preferred Shares - 6.5% Series D
Ordinary income	0.00	%	0.00	%	100.00	%
Return of Capital	0.00	%	100.00	%	0.00	%
Capital Gain Distribution	100.00	%	0.00	%	0.00	%
Preferred Shares - 6.5% Series E
Ordinary income	0.00	%	0.00	%	100.00	%
Return of Capital	0.00	%	100.00	%	0.00	%
Capital Gain Distribution	100.00	%	0.00	%	0.00	%
Common Shares - Class A
Ordinary income	N/A		0.00	%	33.03	%
Return of Capital	N/A		100.00	%	66.97	%
Capital Gain Distribution	N/A		0.00	%	0.00	%