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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Taxes  
Income Taxes

 

12. Income Taxes

 

During the three and six months ended June 30, 2016, the Company had pre-tax income of $10.7 million and $15.9 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 (NOLs). 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 NOLs to offset the expected tax expense.

 

During the three and six months ended June 30, 2016, the Company recorded $0.7 million and $0.9 million of current tax expense, respectively, primarily related to an increase in our reserve for an uncertain tax position related to the Alternative Minimum Tax.