INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Components of our benefit for income taxes from continued operations are as follows:

The effective income tax rate from continuing operations differs from the statutory US federal income tax rate as follows:



	Year Ended December 31, 2014		Year Ended December 31, 2013		Year Ended December 31, 2012
Taxes at federal statutory rate	35.0	%	35.0	%	35.0	%
State income tax, net	—	%	—	%	(0.9	)%
Discontinued Operations	—	%	—	%	0.3	%
FICA credit	0.4	%	(1.3	)%	0.2	%
AMT credit	—	%	(1.9	)%	—	%
Other, net	(0.2	)%	(2.0	)%	(0.3	)%
Goodwill Impairment	—	%	—	%	(15.4	)%
Non-deductible interest	(12.0	)%	(6.8	)%	(2.2	)%
Valuation allowance	(23.3	)%	(22.6	)%	0.4	%
Benefit for income taxes	(0.1	)%	0.4	%	17.1	%

Significant components of the Company’s net deferred income tax asset consisted of the following:



(In Thousands)	2014			2013			2012
Deferred Tax Assets
Reserves and accruals	$	748		$	1,149		$	1,556
Federal net operating loss carry forwards	38,712			29,992			24,181
AMT and other tax credits	2,284			1,733			2,664
Deferred interest	1,264			675			381
Other	3			18			136
Total before valuation allowance	43,011			33,567			28,918
Valuation allowance	(29,849		)	(19,559		)	(13,481		)
Total Deferred Tax Asset	13,162			14,008			15,437
Deferred Tax Liabilities
Prepaid expenses	(595		)	(583		)	(621		)
Property and equipment	(33,592		)	(34,238		)	(35,417		)
Intangibles	(1,409		)	(1,621		)	(1,833		)
Total Deferred Tax Liability	(35,596		)	(36,442		)	(37,871		)
Net Deferred Tax Liability	$	(22,434	)	$	(22,434	)	$	(22,434	)

The net change in our deferred income tax valuation allowance for the years ended December 31, 2014, 2013 and 2012 is as follows: