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Income Taxes
3 Months Ended
Mar. 31, 2018
Income Taxes [Abstract]  
Income Taxes

NOTE 13.  INCOME TAXES



As of March 31, 2017 and throughout the three months then ended, a full valuation allowance was recorded against the Company’s net deferred tax assets due to the uncertainty of realization because of historical operating losses. As such, no income tax expense or benefit was recorded during that period.  During the fourth quarter of 2017, it was determined by management that a valuation allowance against federal and certain state net deferred tax assets was no longer required as management believed that it is more likely than not that remaining deferred tax assets will be realized.  Following this release, during the three months ended March 31, 2018, income tax expense totaling $129 was recognized on income earned by the TRS.  Management believes the combined federal and state effective income tax rate for the TRS will be approximately 26%.



After consideration of limitations related to a change in control as defined under Code Section 382, the TRS’s net operating loss carryforward at March 31, 2018 as determined for federal income tax purposes was $3,913. The availability of the loss carryforwards will expire from 2027 through 2034