Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

The following table presents the income tax provision from continuing operations for the years ended December 31 as indicated:



	2017			2016
Current
Federal	$	3,863,151		$	6,157,900
State	558,993			1,014,213
	4,422,144			7,172,113
Deferred
Federal	(3,270,928		)	570,770
State	(115,219		)	66,885
	(3,386,147		)	637,655
Total	$	1,035,997		$	7,809,768

The following table presents the total income tax provision for the years ended December 31 as indicated:



	2017			2016
Income tax provision	$	1,035,997		$	7,809,768
Discontinued operations	(164,235		)	(66,077		)
Total	$	871,762		$	7,743,691

Schedule of deferred tax assets and liabilities

The following table presents the temporary differences and carryforwards, which give rise to deferred tax assets and liabilities as of December 31 as indicated:



	2017			2016
Deferred tax assets
Accrued vacation	$	113,893		$	146,215
Acquisition costs capitalized	58,886			98,484
Accrued remediation costs	130,168			80,100
Accrued payables	174,674			122,235
Percentage completed contract method for tax	276,413			—
Accrued workers’ compensation	159,237			127,033
Capitalized bidding costs	121,227			8,846
Inventory adjustments	139,565			133,991
Accrued lease expense	17,902			32,683
Accrued contract losses	50,220			89
Other	4,103			5,214
Total deferred tax assets	1,246,288			754,890
Deferred tax liabilities
Tax amortization in excess of financial statement amortization	(10,850		)	(12,156		)
Tax depreciation in excess of financial statement depreciation	(5,934,158		)	(8,947,058		)
Total deferred tax liabilities	(5,945,008		)	(8,959,214		)
Total net deferred tax liabilities	$	(4,698,720	)	$	(8,204,324	)

Reconciliation of effective and statutory tax rates from continuing operations

The following table presents the differences between the Company’s effective income tax rate and the federal statutory rate on income from continuing operations for the years ended December 31 as indicated:



	2017	2016
Federal statutory rate	34.0%	35.0%
State tax rate, net of federal tax	3.1	3.3
Nondeductible expenses	3.6	1.6
Domestic production activities deduction	(4.0)	(3.2)
Tax Act rate change	(26.0)	—
Other	0.1	0.6
Total	10.8%	37.3%

Reconciliation of beginning and ending unrecognized tax benefits

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years as indicated:



	2017		2016
Balance as of January 1	$	4,723	$	4,723
Increase from current year tax positions	—		—
Decrease from settlements with taxing authority	—		—
Balance as of December 31	$	4,723	$	4,723