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Income Taxes
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
The Company’s provision for income taxes consists of state and local, and foreign taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year.
 
For the nine months ended September 30, 2017 and 2016, the Company recorded an income tax provision of $207,352 and $375,338, respectively, consisting primarily of state and local and foreign taxes. The effective tax rate for the nine months ended September 30, 2017 and September 30, 2016 was (179.6%) and (4.0%), respectively. The difference in the Company’s effective tax from the statutory rate of 35% is primarily attributable to the mix of foreign and domestic earnings as no tax benefit is being recognized on domestic losses. During the three months ended September 30, 2017 the Company recorded and income tax benefit of $0.0 million related to the reversal of uncertain tax positions. As of September 30, 2017, the Company’s conclusion did not change with respect to the realizability of its domestic deferred tax assets and, therefore, the Company has not recorded any income benefit attributable to domestic losses in connection with forecasting the 2017 estimated annual effective tax rate. As of September 30, 2017, the valuation allowance totaled approximately $39.2 million. The Company’s total unrecognized tax benefits, excluding interest, at September 30, 2017 and December 31, 2016 were $164,292 and $217,461, respectively.

At September 30, 2017, $241,287 of unrecognized tax benefits, including interest, if recognized, would reduce the Company’s effective tax rate. As of September 30, 2017 and December 31, 2016, the Company had $76,995 and $111,278, respectively, of accrued interest.