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Income Taxes - (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Summarized Statement of Components of Income Tax Provision
The income tax provision for the years ended December 31, 2018, 2017 and 2016, is comprised of the following components:
 
For the Year Ended December 31, 2018
 
Federal
 
State
 
Total
Current expense
$
9,136

 
$
2,426

 
$
11,562

Tax credits/true-up
(5,841
)
 
(175
)
 
(6,016
)
Change in deferred expense/(benefit)
3,730

 
(32
)
 
3,698

Total tax expense
$
7,025

 
$
2,219

 
$
9,244

 
 
For the Year Ended December 31, 2017
 
Federal
 
State
 
Total
Current expense
$
5,677

 
$
1,662

 
$
7,339

Tax credits/true-up
(5,573
)
 
(383
)
 
(5,956
)
Change in deferred expense
1,700

 
542

 
2,242

Total tax expense
$
1,804

 
$
1,821

 
$
3,625

 
 
For the Year Ended December 31, 2016
 
Federal
 
State
 
Total
Current expense
$
14,627

 
$
2,368

 
$
16,995

Tax credits/true-up
(312
)
 

 
(312
)
Change in deferred benefit
(369
)
 
(467
)
 
(836
)
Total tax expense
$
13,946

 
$
1,901

 
$
15,847

Schedule of Reconciliation of Statutory Income Tax Provisions to the Effective Income Tax Provisions
A reconciliation of the statutory income tax provisions to the effective income tax provisions for the periods indicated is as follows:
 
For the Year Ended December 31,
 
2018
 
2017
 
2016
Expected tax at statutory rate
$
95,828

 
21.0
 %
 
$
186,274

 
35.0
 %
 
$
144,708

 
35.0
 %
Non-taxable REIT income
(83,022
)
 
(18.2
)%
 
(170,811
)
 
(32.1
)%
 
(131,112
)
 
(31.7
)%
State and local tax expense - net of federal benefit
2,385

 
0.5
 %
 
2,306

 
0.4
 %
 
2,399

 
0.6
 %
Change in valuation allowance
(1,052
)
 
(0.2
)%
 
159

 
 %
 
(845
)
 
(0.2
)%
Tax credits/true-up
(6,016
)
 
(1.3
)%
 
(5,956
)
 
(1.1
)%
 
(312
)
 
(0.1
)%
Remeasurement of deferred balances

 
 %
 
(8,460
)
 
(1.6
)%
 

 
 %
Miscellaneous
1,121

 
0.2
 %
 
113

 
 %
 
1,009

 
0.2
 %
Total provision
$
9,244

 
2.0
 %
 
$
3,625

 
0.6
 %
 
$
15,847

 
3.8
 %
Schedule of Major Sources of Temporary Differences Stated at their Deferred Tax Effects
The major sources of temporary differences stated at their deferred tax effects are as follows:
 
December 31, 2018
 
December 31, 2017
Deferred tax liabilities:
 
 
 
Fixed assets
$
(20,907
)
 
$
(15,271
)
Other
(96
)
 
(108
)
State deferred taxes
(3,076
)
 
(2,822
)
Total deferred tax liabilities
(24,079
)
 
(18,201
)
 
 
 
 
Deferred tax assets:
 
 
 
Captive insurance subsidiary
324

 
252

Accrued liabilities
1,772

 
873

Stock compensation
1,604

 
1,287

Solar credit

 
43

Other
53

 
57

SmartStop TRS
219

 
219

State deferred taxes
7,196

 
7,802

Total deferred tax assets
11,168

 
10,533

 
 
 
 
Valuation allowance
(3,872
)
 
(4,924
)
 
 
 
 
Net deferred income tax liabilities
$
(16,783
)
 
$
(12,592
)