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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Components of Deferred Tax Assets and Liabilities Included in Consolidated Balance Sheets

Significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31, 2019 and 2018 were as follows (in thousands):

		December 31, 2019				December 31, 2018
Deferred tax assets:
Compensation		$	1,964			$	1,842
Allowance for doubtful accounts			514				600
Acquired net operating losses			840				-
Lease obligations - including closed clinics			21,445				34
Deferred tax assets		$	24,763			$	2,476
Deferred tax liabilities:
Depreciation and amortization		$	(13,195	)		$	(11,309	)
Operating lease right-of-use assets			(21,416	)			-
Other			(223	)			(179	)
Deferred tax liabilities			(34,834	)			(11,488	)
Net deferred tax liability		$	(10,071	)		$	(9,012	)

Differences Between Federal Tax Rate and Company's Effective Tax Rate for Results of Continuing Operations

The differences between the federal tax rate and the Company’s effective tax rate for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):

		December 31, 2019								December 31, 2018								December 31, 2017
U. S. tax at statutory rate		$	11,274				21.0	%		$	9,710				21.0	%		$	9,900				35.0	%
Tax legislation adjustment			-				0.0	%			-				0.0	%			(4,325	)			-15.3	%
State income taxes, net of federal benefit and tax reform			2,059				3.8	%			1,722				3.7	%			1,060				3.7	%
Excess equity compensation deduction			(871	)			-1.6	%			(806	)			-1.7	%			(1,139	)			-4.0	%
Non-deductible expenses			1,185				2.2	%			743				1.6	%			560				2.0	%
Other			-				0.0	%			-				0.0	%			(24	)			-0.1	%
		$	13,647				25.4	%		$	11,369				24.6	%		$	6,032				21.3	%

Significant Components of Provision for Income Taxes for Continuing Operations

Significant components of the provision for income taxes for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):

		December 31, 2019				December 31, 2018				December 31, 2017
Current:
Federal		$	6,523			$	5,357			$	9,332
State			2,473				1,199				1,564
Total current			8,996				6,556				10,896
Deferred:
Federal			3,730				3,771				(5,233	)
State			921				1,042				369
Total deferred			4,651				4,813				(4,864	)
Total income tax provision		$	13,647			$	11,369			$	6,032

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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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-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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