Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

v3.10.0.1
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
For interim periods, the provision for income taxes (including federal, state, local and foreign taxes) is calculated based on the estimated annual effective tax rate and consists of the following:
 
 
 
Three months ended
June 30,
 
 
Six months ended
June 30,
 
(in thousands)
 
2018
 
 
2017
 
 
201
8
 
 
2017
 
Deferred income tax provision (benefit)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. federal
 
$
215
 
 
$
333
 
 
$
(545
)
 
$
(553
)
State and local
 
 
78
 
 
 
71
 
 
 
(205
)
 
 
(126
)
Total deferred income tax provision (benefit)
 
 
293
 
 
 
404
 
 
 
(750
)
 
 
(679
)
Income tax provision (benefit)
 
$
293
 
 
$
404
 
 
$
(750
)
 
$
(679
)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:
 
 
 
Six months ended June 30,
 
 
 
2018
 
 
2017
 
Federal statutory income tax rate
 
 
21.0
%
 
 
34.0
%
State income taxes, net of federal tax effect
 
 
5.5
%
 
 
4.6
%
Nondeductible/nontaxable items
 
 
5.0
%
 
 
2.1
%
Tax credits
 
 
(1.1
)%
 
 
(0.9
)%
Effective tax rate
 
 
30.4
%
 
 
39.8
%