INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes were as follows:



	Years Ended December 31,
(in thousands)	2019		2018		2017
Current taxes
Federal	$	9,022	$	15,262	$	38,400
State	2,033		5,217		5,587
	11,055		20,479		43,987
Deferred taxes
Federal	7,363		5,760		(5,437		)
State	1,632		120		311
	8,995		5,880		(5,126		)
Provision for income taxes	$	20,050	$	26,359	$	38,861

Schedule of Effective Income Tax Rate Reconciliation

The effective rate varies from the statutory U.S. federal tax rate as follows:



	Years Ended December 31,
(in thousands)	2019			2018			2017
Income tax expense at statutory federal rate	$	15,789		$	20,537		$	35,388
State income taxes, net of federal effect	2,883			4,308			3,834
Nondeductible professional fees	1,255			1,776			—
Other permanent differences including lobbying expense	424			236			687
Share-based compensation	(261		)	(718		)	5,167
Deferred tax adjustment	—			—			(552		)
Deferred tax impact of TCJA	—			117			(6,523		)
Return to provision adjustments	(245		)	89			—
Change in uncertain tax positions	205			14			860
Total provision for income taxes	$	20,050		$	26,359		$	38,861
Effective income tax rate on continuing operations	26.7		%	27.0		%	38.4		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred income taxes at December 31, 2019 and 2018 are as follows:



	Years Ended December 31,
(in thousands)	2019			2018
Deferred tax assets:
Accrued liabilities and other	$	3,233		$	1,818
Tax basis difference in property and equipment	9,148			6,190
Tax basis difference in share-based compensation	1,800			1,694
Federal tax net operating loss carryforwards	121			—
State tax net operating loss carryforwards	310			131
Valuation allowance	—			—
Total deferred tax assets, net	$	14,612		$	9,833

Deferred tax liabilities:
Tax basis difference in land	$	(2,865	)	$	(1,848	)
Tax basis difference in goodwill	(4,296		)	(3,673		)
Tax basis difference in amortizable assets	(21,241		)	(21,838		)
Total deferred tax liabilities	$	(28,402	)	$	(27,359	)
Net deferred tax liabilities	$	(13,790	)	$	(17,526	)

Schedule of Unrecognized Tax Benefits

There was no unrecognized tax benefit recorded as of December 31, 2019. A reconciliation of the beginning and ending balances of the gross liability for uncertain tax positions is as follows:



	Years Ended December 31,
(in thousands)	2019			2018			2017
Uncertain tax position liability at the beginning of the year	$	400		$	445		$	106
Increases related to tax positions taken during prior period	—			21			953
Decreases related to tax positions taken during prior periods	(400		)	—			—
Decreases related to settlements with taxing authorities	—			(66		)	(614		)
Uncertain tax position liability at the end of the year	$	—		$	400		$	445