The provision (benefit) for income taxes on continuing operations are as follows:

	2020		2019
Current	$	296	$	0
Deferred		0		(82	)
Total income tax expense (benefit)	$	296	$	(82	)

Net deferred income tax assets recorded in the consolidated balance sheets are as follows:

	June 30,
	2020			2019
Net operating loss carryforward	$	6,078		$	6,766
Depreciation expense		(86	)		46
Allowances for receivables		131			125
Accrued liabilities		1,407			603
Intangible assets		585			877
Pension liabilities		165			141
Other		109			67
		8,389			8,625
Less valuation allowance		(8,389	)		(8,625	)
Net deferred income tax assets	$	0		$	0

The differences between income taxes on continuing operations at the Federal statutory rate and the effective tax rate were as follows:

	2020			2019
Income tax expense (benefit) at Federal statutory rate	$	(61	)	$	(436	)
Changes in valuation allowance—continuing operations		(369	)		378
U.S. state income taxes, net of federal benefit		175			(45	)
Permanent differences under CARES Act		582			0
Deferred tax rate changes		(34	)		32
Other		3			(11	)
Total income tax expense (benefit)—continuing operations	$	296		$	(82	)

Key income tax provisions of the CARES Act include new health-care funding, loans and grants to certain businesses, and temporary amendments to the Internal Revenue Code. The corporate income tax provisions of the CARES Act include allowing the carryback of net operating losses (“NOL”) generated in recent tax years, temporary removal of the 80% NOL usage limitation put in place under the Tax Cuts and Jobs Act (“TCJA”) enacted on December 27, 2017, temporary favorable adjustments to the business interest expense limitation calculated under Sec. 163(j), and the acceleration of refundable Alternative Minimum Tax (“AMT”) credits.

Of the CARES Act provisions, the most material income tax considerations relating to the Company, are relating to the amounts received as general and targeted PRF and amounts received under the PPP loans. Based on the latest published IRS guidance as of preparation of the June 30, 2020 financial statements, the PRF is be fully includable in taxable income and any amounts of income or expense related to the PPP loans will be excluded for tax purposes. The result of including the PRF in taxable income and disallowing PPP loan expenses for the period is a total addition to taxable income of $7,303. The Company has sufficient federal and state net operating losses for the period to cover the resulting provisional June 30, 2020 taxable income, except in Mississippi, the source of the substantial majority of the Company’s PRF. The June 30, 2020 current tax expense, as booked represents Mississippi state income tax. The Company will continue to monitor the latest available IRS guidance on these funds for treatment on the June 30, 2020 tax return filing, which is due April 15, 2021. The Company elected to treat remaining available AMT credits as fully refundable as of the 2018 tax year as allowed by the CARES Act. As of June 30, 2020 the Company has made use of this election in order to claim and received all remaining refundable AMT credits in the amout of $305.

We believe that the remainder of the corporate income tax provisions of the CARES Act will not have a material impact on the Company after June 30, 2020. Due to the Company’s history of losses , there is no potential for the carryback of NOLs. The temporary removal of the 80% income limitation on NOL usage has no impact as the Company has substantial NOLs generated in years prior to the enactment of the TCJA not subject to this 80% limitation. The Company also does not have any interest expense disallowed under Sec. 163(j) after consideration of the PRF and PPP loan adjustments discussed previously that would be impacted by the CARES Act.

In accordance with the FASB ASC 740, we evaluate our deferred taxes quarterly to determine if adjustments to our valuation allowance are required based on the consideration of available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. Our evaluation considers, among other factors, our historical operating results, our expectation of future results of operations, the duration of applicable statuary carryforward periods and conditions of the healthcare industry. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets will depend on applicable income tax rates.

At June 30, 2020, consistent with the above process, we evaluated the need for a valuation against our deferred tax assets and determined that it was more likely than not that none of our deferred tax assets would be realized. As a result, in accordance with ASC 740, we recognized a valuation allowance of $8,389 against the deferred tax asset so that there is no net long-term deferred income tax asset or liability at June 30, 2020. We conducted our evaluation by considering available positive and negative evidence to determine our ability to realize our deferred tax assets. In our evaluation, we gave more significant weight to evidence that was objective in nature as compared to subjective evidence. Also, more significant weight was given to evidence that directly related to our current financial performance as compared to less current evidence and future plans.

The principal negative evidence that led us to determine at June 30, 2020 that all the deferred tax assets should have full valuation allowances was the three-year cumulative pre-tax loss from continuing operations as well as the underlying negative business conditions for rural healthcare businesses in which our Healthcare Services Segment businesses operate.

For Federal income tax purposes, at June 30, 2020, the Company had approximately $17,500 of estimated net operating loss carry-forwards available for use in future years subject to the limitations of the provisions of Internal Revenue Code Section 382. These net operating loss carryforwards expire primarily in fiscal 2023 through fiscal 2038; however, with the enactment of the TCJA on December 22, 2017, federal net operating loss carryforwards generated in taxable years beginning after December 31, 2017 now have no expiration date. The Company’s returns for the periods prior to the fiscal year ended June 30, 2017 are no longer subject to potential federal and state income tax examination.