TAXES (Tables)

12 Months Ended

Dec. 31, 2016

TAXES

Schedule of income tax provision (benefit)

The Company’s income tax provision (benefit) consists of the following (in thousands):

	Years ended December 31,
	2016		2015		2014
Federal	$	12,834	$	11,968	$	6,935
State		477		359		46
Current tax provision		13,311		12,327		6,981
Federal		99		(1,117)		637
State		(52)		7		(688)
Deferred tax (benefit) provision		47		(1,110)		(51)
Total tax provision	$	13,358	$	11,217	$	6,930

Schedule of income tax provision differs from that computed at the federal statutory rate

	Years ended December 31,
	2016		2015		2014
Federal tax at the statutory rate	35.00	%	35.00	%	35.00	%
State tax (net of federal benefit)	0.70	%	0.72	%	(1.84)	%
Permanent items	0.27	%	0.34	%	3.49	%
Tax credits	(0.96)	%	(0.73)	%	(1.03)	%
Other	0.23	%	(0.14)	%	(2.80)	%
	35.24	%	35.19	%	32.82	%

Schedule of components of the deferred income tax assets and liabilities

The components of the deferred income tax assets and liabilities at December 31, 2016 and 2015, as presented in the consolidated balance sheets, are as follows (in thousands): 

	2016		2015
DEFERRED TAX ASSETS
Stock-based compensation	$	2,198	$	2,039
Compensation and benefits		1,113		1,033
Bad debt reserves		136		163
Accrued expenses		1,991		1,695
Fixed assets and depreciation		2,305		2,626
Base stock		6		10
State Taxes		144		133
NOLs & credit carry-forwards		3,295		3,831
Deferred income tax asset	$	11,188	$	11,530
DEFERRED TAX LIABILITIES
Intangibles and amortization	$	(1,811)	$	(2,235)
Prepaid expenses		(1,365)		(1,279)
Real estate taxes		(154)		(150)
Other Reserves		(138)		(95)
Federal deduction on deferred state taxes		(366)		(356)
Deferred income tax liability	$	(3,834)	$	(4,115)
NET DEFERRED INCOME TAX ASSET	$	7,354	$	7,415