Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Benefit

The components of the income tax benefit for the three months ended March 31, 2015 and 2014 are as follows:

	Three months ended March 31, 2015			Three months ended March 31, 2014
	(unaudited)			(unaudited)
Current:
Federal	$	—		$	—
State		57,679			23,000
		57,679			23,000
Deferred:
Federal		(425,159	)		(732,189	)
State		(71,295	)		(26,130	)
		(496,454	)		(758,319	)
	$	(438,775	)	$	(735,319	)

Reconciliation of Statutory Federal Income Tax Benefit

A reconciliation of the statutory federal income tax benefit to the Company’s income tax benefit is as follows:

	Three months ended March 31, 2015			Three months ended March 31, 2014
	(unaudited)			(unaudited)
Statutory federal income tax expense	$	93,528		$	90,778
Effect of non-taxable REIT income		(518,687	)		(822,967	)
State income tax benefit		(13,616	)		(3,130	)
	$	(438,775	)	$	(735,319	)