Income Taxes (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Income Taxes

Schedule of components of income tax provision

The income tax provision consists of the following:

	For the three months ended March 31,
	2020		2019
Federal:
Current	$	230,470	$	151,046
Deferred		(81,710)		79,070
State and Local:
Current		56,107		36,683
Deferred		(19,811)		19,203
Income tax provision	$	185,056	$	286,002

	December		December
	31, 2019		31, 2018
Federal:
Current	$	991,989	$	460,929
Deferred		(1,256)		82,694
State and Local:
Current		401,637		111,940
Deferred		—		20,083
Income tax provision	$	1,392,370	$	675,646

Schedule of reconciliations of the differences between the provision for income taxes and income taxes at the statutory U.S. federal income tax rate

	2019
	Amount		Percent of Pretax Income
Current tax at U.S. statutory rate	$	865,932	21.00	%
State taxes, net of federal benefit		211,707	5.14	%
Effect of prior year underaccrual		73,118	1.77	%
Change in Valuation Allowance		241,613	5.86	%
Total Income Tax Provision	$	1,392,370	33.77	%

	2018
	Amount		Percent of Pretax Income
Current tax at U.S. statutory rate	$	543,623	21.00	%
State taxes, net of federal benefit		132,023	5.10	%
Total Income Tax Provision	$	675,646	26.10	%

Schedule of deferred income taxes

The table below presents the Company’s deferred income taxes as of:

	March 31, 2020		December 31, 2019
Deferred tax asset (liability):
Unrealized gains on marketable securities	$	—	$	(101,521)
Start-up costs		357,750		241,613
Less: Valuation Allowance		(357,750)		(241,613)
Deferred tax liability	$	—	$	(101,521)

	December		December
	31, 2019		31, 2018
Deferred tax asset (liability):
Unrealized gains on marketable securities	$	(101,521)	$	(155,578)
Start-up costs		241,613		52,801
Less: Valuation Allowance		(241,613)		—
Deferred tax liability	$	(101,521)	$	(102,777)