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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

TRS Holdings and Observatory TRS are taxable entities and their consolidated provision for income taxes consisted of the following for the years ended December 31, 2015 and 2014 and the period October 7, 2013 through December 31, 2013 (amounts in thousands):

	For the Year Ended December 31,								Period from October 7, 2013 through December 31, 2013
	2015				2014
Current:
Federal	$	(2,714	)		$	(3,253	)		$	844
State and local	(1,502		)		(1,792		)		281
Total current	(4,216		)		(5,045		)		1,125
Deferred:
Federal	169				247				—
State and local	98				143				—
Total deferred	267				390				—
Income tax (expense) benefit	$	(3,949	)		$	(4,655	)		$	1,125

Schedule of Actual Tax Provision Differed From Federal Statutory Corporate Rate

The actual tax provision differed from that computed at the federal statutory corporate rate as follows (amounts in thousands):

	For the Year Ended December 31,								Period from October 7, 2013 through December 31, 2013
	2015				2014
Federal tax (expense) benefit at 34% statutory rate	$	(3,003	)		$	(3,576	)		$	844
State income taxes, net of federal benefit	(946		)		(1,079		)		281
Income tax (expense) benefit	$	(3,949	)		$	(4,655	)		$	1,125

Schedule of Deferred Tax Assets and Liabilities

The income tax effects of temporary differences that give rise to deferred tax assets are presented below as of December 31, (amounts in thousands):

	2015				2014				2013
Deferred tax assets:
Deferred revenue on unredeemed observatory admission ticket sales	$	267			$	390			$	—
Loss carryforwards	—				—				1,125
Total deferred tax assets	267				390				1,125
Deferred tax liabilities:
Total deferred tax liabilities	—				—				—
Total	$	267			$	390			$	1,125

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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=6907707&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=6907707&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=6907707&loc=d3e32687-109319

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