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Income Taxes
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The Company has been organized and operates in a manner that enables it to qualify, and believes it will continue to qualify, as a REIT for federal income tax purposes. The Company’s effective tax rate for the three months ended June 30, 2020 differed from the effective tax rate for the same periods in 2019, primarily due to the benefit from interest income receivable on IRS tax refunds in 2019.

As of June 30, 2020, tax years 2016 and later are open to audit by the tax authorities. As of June 30, 2020, the Company has one open tax examination of the 2016 Hawaii state income tax return of a joint venture investment. The Company believes that the result of this audit will not have a material adverse effect on its results of operations, financial condition or liquidity.