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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Tax Expense

The items comprising income tax expense are as follows (dollars in thousands):

		Year Ended December 31,
		2017				2016				2015
Provision for current income taxes
Federal		$	10,136			$	12,207			$	11,308
State			1,791				3,044				2,292
Total provision for current income taxes			11,927				15,251				13,600
Provision (benefit) for deferred income taxes, net
Federal			199				(1,476	)			(1,109	)
State			(2,286	)			(372	)			89
Total benefit for deferred income taxes, net			(2,087	)			(1,848	)			(1,020	)
Total provision for income taxes		$	9,840			$	13,403			$	12,580

Reconciles Statutory Federal Tax Rate to Effective Income Tax Rate

The following schedule reconciles the statutory Federal tax rate to the effective income tax rate:

		Year Ended December 31,
		2017				2016				2015
Federal statutory tax rate			35	%			35	%			35	%
Increase (decrease) resulting from:
State income taxes, net of Federal income tax benefit			4	%			4	%			4	%
Nondeductible expenses			1	%			1	%			3	%
Research credit, Federal benefit			(3	%)			(2	%)			(1	%)
Section 199 - Qualified production activities			(2	%)			(2	%)			(3	%)
Stock-based compensation			(21	%)			(12	%)			0	%
Return to provision			(1	%)			0	%			0	%
Remeasurement of deferred tax assets			1	%			0	%			0	%
Other			(1	%)			(1	%)			0	%
Effective income tax rate			13	%			23	%			38	%

Net Deferred Tax Assets and Liabilities

The significant components of our deferred tax assets and liabilities were as follows (dollars in thousands):

		December 31,
		2017				2016
Deferred income tax assets (liabilities):
Stock-based compensation		$	1,446			$	2,658
Investment in Paycom Payroll Holdings, LLC			101				(1,487	)
Net operating losses			1,677				36
Federal tax credits			70				—
Noncurrent deferred income tax assets, net		$	3,294			$	1,207

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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