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Income Taxes
9 Months Ended
Sep. 30, 2015
Income Taxes  
Income Taxes

 

12. Income Taxes

 

During the three and nine months ended September 30, 2015, the Company had pre-tax income of $4.3 million and $7.9 million, respectively. The provision for Federal and state income taxes related to the pre-tax income has been largely offset by the utilization of available net operating loss carryforwards (NOL’s). Accordingly, the Company reduced its valuation allowance against its deferred tax assets and recognized an income tax expense for the jurisdictions that did not have sufficient NOL’s to offset the expected tax expense.

 

During the three months and nine months ended September 30, 2015, the Company recorded zero and $0.7 million, respectively, of current tax expense related to an increase in our reserve for an uncertain tax position related to the Alternative Minimum Tax.