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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of components of the provision for income taxes

		For the Years Ended December 31,
		2019			2018			2017
Current taxes:
U.S. federal		$	(47,831)		$	740		$	862,725
State			58,379			37,547			186,993
Total current tax expense			10,548			38,287			1,049,718
Deferred taxes:
U.S. federal			(544,384)			(128,905)			(92,788)
State			(53,806)			(15,525)			(60,308)
Total deferred tax benefit			(598,190)			(144,430)			(153,096)
Provision for income tax (benefit) expense		$	(587,642)		$	(106,143)		$	896,622

Schedule of significant components of deferred taxes

		As of  December 31,
		2019			2018
Deferred income tax assets (liabilities):
Stock compensation		$	790,357		$	927,282
Deferred revenue			446,562			499,307
Reserves and allowances			257,549			197,355
Research and development credits carryforward			146,320			43,391
Net operating loss carryforward			688,084			26,767
Depreciation and amortization			(619,528)			(611,269)
Other, net			(45,929)			5,869
Total deferred income taxes, net		$	1,663,415		$	1,088,702

Schedule of reconciliation of statutory U.S. federal tax rate to effective rate

		For the Years Ended December 31,
		2019		2018		2017
Statutory U.S. federal tax rate		21.0	%	21.0	%	34.0	%
Tax Cuts and Jobs Act		—		—		33.9
Tax (windfalls) deficiencies on exercise and vesting of equity awards		(17.1)		(21.8)		5.4
Stock compensation expense		(9.8)		(0.2)		5.3
State taxes, net of federal benefit		0.1		(0.1)		5.1
Permanent items		1.2		0.5		4.4
Provision to return adjustments		(1.1)		(0.3)		(9.5)
Domestic production activities deduction		—		—		(7.2)
Research and development credits		(0.8)		(0.8)		(7.2)
Effective rate		(6.5)	%	(1.7)	%	64.2	%

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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.

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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.

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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.

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