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Income Taxes

9 Months Ended

Sep. 30, 2020


13.			INCOME TAXES

The Company and its subsidiaries are based in the U.S. and file federal and various state income tax returns. The components of the provision for income taxes were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Current tax expense	$	1,557	$	113	$	3,766	$	221
Deferred tax expense	4,723		800		10,946		1,561
Income tax expense	$	6,280	$	913	$	14,712	$	1,782

Cash paid for income taxes	$	2,900	$	323	$	2,944	$	323

The effective income tax rate varied from the 21% federal statutory rate primarily as a result of state income taxes, disallowed compensation and net income attributable to noncontrolling interest owners, which is taxable to those owners rather than to the Company. In addition, 2019 included a reduction in the tax valuation allowance.

Due to the net operating loss carryforwards, the Company expects no cash payments for federal income taxes for 2020 or 2019. The Company makes cash payments for state income taxes in states in which the Company does not have net operating loss carry forwards.

At December 31, 2019 the Company had federal and state net operating loss (“NOL”) carryforwards of $83,270 and $44,857, respectively, which expire at various dates in the next 18 years for U.S. federal income tax and in the next 8 to 18 years for the various state jurisdictions where we operate. Such NOL carryforwards expire beginning in 2028 through 2038.

As a result of the Company’s analysis, management has determined that the Company does not have any material uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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