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Income Taxes
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
For the nine months ended September 30, 2015, the Company's income tax expense was $464,000 compared to an income tax expense of $1,647,000 for the nine months ended September 30, 2014. These represent effective income tax rates of approximately 28% and 34% for the nine months ended September 30, 2015 and, 2014, respectively. The effective tax rate for the first nine months of 2015 is based on forecasted annual pre-tax income for 2015. As of September 30, 2015, we had income taxes payable of $0.
The Company classifies interest and penalties incurred on tax payments as income tax expense. During the nine months ended September 30, 2015, the Company made $2,117,000 of income tax payments for the 2015 tax year.