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Income Taxes (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Schedule of Deferred Tax Assets

The following is a rollforward of the Company’s deferred tax liability from January 1, 2020 to September 30, 2020 (in thousands):

 

Balance at December 31, 2019   $ 30,879  
Income tax benefit (associated with the amortization of intangible assets)     (1,038 )
Deconsolidation of Nexway     (1,162 )
Balance at March 31, 2020   $ 28,679  
Acquisition of fuboTV Pre-Merger     65,613  
Income tax benefit (associated with the amortization of intangible assets)     (3,498 )
Balance at June 30, 2020   $ 90,794  
Income tax benefit (associated with the amortization of intangible assets)     (16,071 )
Measurement period adjustment     (65,295 )
Balance at September 30, 2020   $ 9,428  
  
Fubo TV Pre-Merger [Member]    
Schedule of Income Taxes Benefit  

Income tax expense for the years ended December 31, 2019 and 2018 differed from statutory federal rate expense primarily due to the Company’s inability to benefit from its tax losses.

 

    December 31,  
    2019     2018  
             
Income tax provision at federal statutory rate   $ (36,475 )   $ (27,155 )
State income taxes, net of federal benefit     7       12  
Other non-deductible expense     276       309  
Change in valuation allowance     36,205       26,836  
Foreign rate differential     (4 )     (4 )
Law changes (federal effect)     -       -  
                 
Total tax provision (benefit)   $ 9     $ (2 )
Schedule of Deferred Tax Assets  

The Company’s deferred tax assets and liabilities consisted of the following:

 

    December 31,  
    2019     2018  
Deferred tax assets:                
Net operating loss carryforwards   $ 88,759     $ 49,307  
Accruals and deferrals     1,864       943  
Stock based compensation     102       57  
Interest expense limitation     432       -  
Other     6       -  
Total deferred tax assets     91,163       50,307  
Valuation allowance     (91,144 )     (50,190 )
Deferred tax liabilities:                
Property and equipment     (19 )     (117 )
Total deferred tax liabilities     (19 )     (117 )
                 
Net deferred tax assets   $ —     $ —