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Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Taxes |
Income Taxes | 15. Income Taxes The Company has deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets are subject to periodic recoverability assessments. Realization of the deferred tax assets, net of deferred tax liabilities is principally dependent upon achievement of projected future taxable income. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more-likely-than-not that the Company will realize the benefits of these deductible differences. The Company has no valuation allowance at December 31, 2021 and 2020. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted though income tax expense. The components of income tax expense (benefit) are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
Current: |  | ​ |  |  | ​ |  |  | ​ |
Federal | ​ | $ | 59,450 | ​ | $ | 63,932 | ​ | $ | 57,354
State | ​ |  | 5,822 | ​ |  | 8,875 | ​ |  | (1,344)
​ | ​ |  | 65,272 | ​ |  | 72,807 | ​ |  | 56,010
Deferred: | ​ |  |  | ​ |  |  | ​ |  |
Federal | ​ |  | 5,050 | ​ |  | 2,842 | ​ |  | 2,804
State | ​ |  | 623 | ​ |  | 295 | ​ |  | (487)
​ | ​ |  | 5,673 | ​ |  | 3,137 | ​ |  | 2,317
Tax expense recorded as an increase of paid-in capital | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | $ | 70,945 | ​ | $ | 75,944 | ​ | $ | 58,327
​ A reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2021 |  | 2020 |  | 2019 |
Statutory U.S. federal income tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State income taxes, net of federal tax benefit |  | 2.4 |  | 2.4 |  | 2.4 | ​
State tax credits, net of federal effect |  | (1.2) |  | (1.2) |  | (1.0) | ​
Excess tax benefits |  | (1.3) |  | (0.4) |  | (2.3) | ​
Nondeductible expenses |  | 0.1 |  | — |  | 0.1 | ​
Other |  | 0.4 |  | 1.0 |  | (1.8) | ​
Effective income tax rate |  | 21.4 | % | 22.8 | % | 18.4 | %
​ Significant components of the Company’s deferred income tax assets and liabilities, included in Deferred income taxes, non-current on the consolidated balance sheets are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, |  | As of December 31,
​ |  | 2021 |  | 2020
Deferred tax assets: |  | ​ |  |  | ​ |
Share-based compensation | ​ | $ | 2,422 | ​ | $ | 2,535
Employee compensation | ​ |  | 802 | ​ |  | 832
Allowance for credit losses | ​ |  | — | ​ |  | 1,200
Intangibles | ​ |  | 17,598 | ​ |  | 20,633
State taxes | ​ |  | 3,508 | ​ |  | 2,787
Other | ​ |  | 1,046 | ​ |  | 964
Deferred tax assets | ​ |  | 25,376 | ​ |  | 28,951
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liability: | ​ |  |  | ​ |  |
Property and equipment | ​ |  | (14,905) | ​ |  | (12,764)
Goodwill | ​ |  | (36,295) | ​ |  | (36,295)
Other | ​ |  | (138) | ​ |  | (180)
Deferred tax liability | ​ |  | (51,338) | ​ |  | (49,239)
Net deferred tax liability | ​ | $ | (25,962) | ​ | $ | (20,288)
​ The net deferred tax liability on the accompanying consolidated balance sheet is comprised of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, |  | As of December 31,
​ |  | 2021 |  | 2020
Deferred income taxes, current | ​ | $ | 4,172 | ​ | $ | 4,639
Deferred income taxes, non-current | ​ |  | (30,134) | ​ |  | (24,927)
Net deferred tax liability | ​ | $ | (25,962) | ​ | $ | (20,288)
​ The Company recognizes the impact of a tax position in its financial statements if that position is more-likely-than-not to be sustained on audit, based on the technical merits of the position. The Company discloses all unrecognized tax benefits, which includes the reserves recorded for uncertain tax positions on filed tax returns and the unrecognized portion of affirmative claims. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. Unrecognized tax benefits as of December 31, 2021 and 2020 were $14,108 and $11,318, respectively. The reconciliation of the beginning and ending balance of unrecognized tax benefits at December 31, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020
Unrecognized tax benefits, beginning of year | ​ | $ | 11,318 | ​ | $ | 6,773
Tax positions taken during the current year | ​ |  |  | ​ |  |
Increases | ​ |  | 3,973 | ​ |  | 4,521
Decreases | ​ |  | — | ​ |  | —
Tax positions taken during a prior year | ​ |  |  | ​ |  |
Increases | ​ |  | 262 | ​ |  | 962
Decreases | ​ |  | (1,064) | ​ |  | —
Decreases for settlements during the period | ​ |  | (74) | ​ |  | (235)
Reductions for lapses of applicable statute of limitations | ​ |  | (307) | ​ |  | (703)
Unrecognized tax benefits, end of year | ​ | $ | 14,108 | ​ | $ | 11,318
​ As of December 31, 2021 and 2020, the unrecognized tax benefit recorded of $14,108 and $11,318, respectively, if reversed, would impact the effective tax rate. At December 31, 2021 and 2020, the Company had accrued $0 and $46, respectively, in interest and $0, in penalties. It is reasonably possible that the amount of the unrecognized tax benefit will change during the next 12 months, however management does not expect the potential change to have a material effect on the results of operations or financial position. The Company’s uncertain tax positions were related to tax years that remained subject to examination by tax authorities. As of December 31, 2021, the earliest tax year still subject to examination for federal and state purposes is 2018 and 2017, respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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