INCOME TAXES

6 Months Ended

Jun. 30, 2020

INCOME TAXES

INCOME TAXES

NOTE 14—INCOME TAXES

The Company’s income tax information is presented in the table below. The effective tax rate is different than the 21% standard Federal rate due to net income allocated to noncontrolling interests, state income taxes and valuation allowances.

	Three Months Ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
	(in thousands)
Current income tax (benefit) expense	$	(607)	$	405	$	(679)	$	583
Deferred income tax expense		477		166		385		166
Total income tax (benefit) expense	$	(130)	$	571	$	(294)	$	749
Effective Tax Rate		0.2%		6.6%		0.1%		7.3%

On March 27, 2020, the CARES Act was enacted. The CARES Act includes, among other things, certain income tax provisions for businesses. The Company recognized an income tax benefit of $0.5 million during the Current Period, as a result of the net operating loss carryback and interest expense limitation provisions of the CARES Act.