Income Taxes

9 Months Ended

Sep. 30, 2020

10.	Income Taxes.

The Company is subject to income taxes in the U.S. federal jurisdiction and various states jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is not subject to U.S. federal, state and local tax examinations by tax authorities for any years before

2017

. If the Company were to subsequently record an unrecognized tax benefit, associated penalties and tax related interest expense would be reported as a component of income tax expense.

The Company has evaluated the positive and negative e

idence bearing upon the realizability of its deferred tax assets. As of September 30, 2020, the Company determined that there is sufficient positive evidence to conclude that it is more likely than not that additional deferred taxes of approximately $31.3 million are realizable. The Company, therefore, reduced the valuation allowance accordingly. As of December 31, 2019, the Company provided a full valuation allowance for deferred tax assets including NOL and tax credit carryovers.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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