INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Summary of the income tax provision

The income tax provision in the PBF Energy consolidated financial statements of operations consists of the following:

	Year Ended December 31, 2013		Year Ended December 31, 2012
Current expense:
Federal	$	—	$	—
State	—		—
Total current	—		—
Deferred expense:
Federal	15,406		1,134
State	1,275		141
Total deferred	16,681		1,275
Total provision for income taxes	$	16,681	$	1,275

Schedule of effective income tax rate reconciliation

The difference between the PBF Energy’s effective income tax rate and the United States statutory rate is reconciled below:

	Year Ended December 31, 2013		Year Ended December 31, 2012
Provision at Federal statutory rate	35.0	%	35.0	%
Increase (decrease) attributable to flow-through of certain tax adjustments:
State income taxes (net of federal income tax)	5.0	%	4.4	%
Non deductible/nontaxable items	7.0	%	—	%
Adjustment to deferred tax assets and liabilities for change in tax rates due to business mix	(14.5	)%	—	%
Other	(2.8	)%	0.1	%
Effective tax rate	29.7	%	39.5	%

Summary of the components of deferred tax assets and liabilities

A summary of the components of deferred tax assets and deferred tax liabilities follows:

	December 31, 2013		December 31, 2012
Deferred tax assets
Purchase interest step-up	$	310,132	$	181,257
Net operating loss carry forwards	14,327		6,087
Other	21,423		9,503
Total deferred tax assets	345,882		196,847
Valuation allowances	—		—
Total deferred tax assets, net	345,882		196,847
Deferred tax liabilities
Property, plant and equipment	140,330		69,088
Inventory	9,390		6,534
Other	1,399		646
Total deferred tax liabilities	151,119		76,268
Net deferred tax assets (liabilities)	$	194,763	$	120,579

Summary of income tax examinations

Income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are all years including and subsequent to:

United States
Federal	2012
New Jersey	2012
Michigan	2012
Delaware	2012
Indiana	2012
Pennsylvania	2012
New York	2012