XML 36 R16.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Taxes |
Income Taxes | Note 10. Income Taxes Our provision for income taxes consists of the following:
|  | For the year ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  | $ | — |  | $ | — |
State |  |  | 574 |  |  | 576 |  |  | 600 |
|  |  | 574 |  |  | 576 |  |  | 600 |
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  | — |  |  | — |
State |  |  | — |  |  | — |  |  | — |
|  |  | — |  |  | — |  |  | — |
Income tax provision |  | $ | 574 |  | $ | 576 |  | $ | 600 |
A reconciliation of our effective tax rate and the U.S. federal statutory income tax rate is as follows:
|  | For the year ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Taxes at statutory U.S. federal income tax rate |  | 35.0 | % | 35.0 | % | 35.0 | %
Nontaxable income of SNH |  | (35.0) | % | (35.0) | % | (35.0) | %
State and local income taxes, net of federal tax benefit |  | 0.4 | % | 0.3 | % | 0.4 | %
Change in valuation allowance |  | 8.82 | % | 6.39 | % | 3.49 | %
Other differences, net |  | (8.82) | % | (6.39) | % | (3.49) | %
Effective tax rate |  | 0.4 | % | 0.3 | % | 0.4 | %
Deferred income tax balances reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities on our consolidated balance sheets and the amounts used for income tax purposes and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. Significant components of our deferred tax assets and liabilities are as follows:
|  | For the year ended December 31, |
|  | 2015 |  | 2014 |
Deferred tax assets: |  |  |  |  |  |  |
Deferred income |  | $ | 2,862 |  | $ | 2,724 |
Other |  |  | 115 |  |  | 206 |
Tax loss carryforwards |  |  | 27,941 |  |  | 17,266 |
|  |  | 30,918 |  |  | 20,196 |
Valuation allowance |  |  | (30,918) |  |  | (20,196) |
|  |  | — |  |  | — |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciable assets |  |  | — |  |  | — |
|  |  | — |  |  | — |
Net deferred income taxes |  | $ | — |  | $ | — |
Deferred tax liabilities are included in other liabilities in the accompanying consolidated balance sheets. Because of our TRSs’ short operating history and history of losses, we are not able to conclude that it is more likely than not we will realize the future benefit of our deferred tax assets; thus we have provided a 100% valuation allowance as of December 31, 2015 and 2014. If and when we believe it is more likely than not that we will recover our deferred tax assets, we will reverse the valuation allowance as an income tax benefit in our consolidated statement of comprehensive income. As of December 31, 2015, our consolidated TRSs had net operating loss carry forwards for federal income tax purposes of approximately $71,283, which, if unused, begin to expire in 2031. In the normal course of business, income tax authorities in various income tax jurisdictions conduct routine audits of our income tax returns filed in prior years. Income tax years subsequent to 2010 may be open to examination in some of the income tax jurisdictions in which we operate.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: 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 Reference 5: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration