Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax provision (benefit) reported in the consolidated statements of operations is comprised of the following (rounded to hundreds):

	December 31,
	2019		2018
Current provision (benefit):
Federal	$	—	$	—
State, net of state tax credits	47,200		39,300
Total current provision (benefit)	47,200		39,300
Deferred provision (benefit):
Federal	800		(90,000)
State	1,000		13,000
Total deferred provision (benefit)	1,800		(77,000)
Total income tax provision (benefit)	$	49,000	$	(37,700)

Schedule of Deferred Tax Assets and Liabilities

The following are the components of the Company’s deferred tax assets (liabilities) for federal and state income taxes (rounded to hundreds):

	December 31,
	2019		2018
			(as adjusted)
Deferred income tax assets:
Accrued expenses	$	515,800	$	361,100
Deferred revenue	4,435,400		3,092,500
Deferred rent	—		237,900
Lease abandonment	—		96,500
Lease liability	3,782,800		—
Goodwill - component 2	55,300		52,500
Restricted stock compensation	3,900		—
Nonqualified stock options	198,900		184,400
Net operating loss carryforwards	3,585,700		6,175,600
Tax credits	33,800		14,000
Charitable contribution carryover	—		15,500
Asset basis difference related to property and equipment	214,000		458,600
Intangibles	595,800		435,900
Total deferred income tax assets	13,421,400		11,124,500
Deferred income tax liabilities:
Lease right-of-use asset	(3,267,900)		—
Deferred franchise costs	(406,500)		(574,100)
Goodwill - component 1	(245,500)		(194,700)
Restricted stock compensation	—		(30,800)
Total deferred income tax liabilities	(3,919,900)		(799,600)
Valuation allowance	(9,591,400)		(10,401,600)
Net deferred tax liability	$	(89,900)	$	(76,700)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the statutory federal income tax rate applied to pre-tax accounting net income, compared to the income tax provision (benefit) in the consolidated statement of operations (rounded to hundreds):

	For the Years Ended December 31,
	2019				2018 (as adjusted)
	Amount		Percent		Amount		Percent
Expected federal tax expense (benefit)	$	731,600	21.0	%	$	22,900	21.0	%
State tax provision, net of federal benefit	315,800		9.1	%	(63,600)		(58.4)	%
Change in valuation allowance	(810,200)		(23.3)	%	51,600		47.4	%
Other permanent differences	41,700		1.2	%	13,200		12.1	%
Stock compensation	(232,600)		(6.7)	%	(40,800)		(37.4)	%
Bargain purchase gain	(5,100)		(0.1)	%	(16,100)		(14.8)	%
Return to provision adjustments	7,800		0.2	%	(4,900)		(4.5)	%
Provision (benefit)	$	49,000	1.4	%	$	(37,700)	(34.6)	%