Income Taxes (Tables)

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax (Benefit) Provision

The components of the income tax provision (benefit) for the three months ended March 31, 2017 and 2016 are as follows:

	Three Months Ended		Three Months Ended
	March 31, 2017		March 31, 2016
	(unaudited)		(unaudited)
Current:
Federal	$	5,485	$	—
State		48,402		51,390
		53,887		51,390
Deferred:
Federal		99,358		(395,225	)
State		18,692		(92,244	)
		118,050		(487,469	)
	$	171,937	$	(436,079	)

Reconciliation of Statutory Federal Income Tax Provision (Benefit)

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

	Three Months Ended			Three Months Ended
	March 31, 2017			March 31, 2016
	(unaudited)			(unaudited)
Statutory federal income tax expense		1,046,484			37,330
Effect of non-taxable REIT income		(941,641	)		(514,263	)
State income tax benefit		67,094			40,854
	$	171,937		$	(436,079	)