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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Reconciles the Income Tax Expense at Statutory Rates to the Actual Income Tax Expense | The following table reconciles the income tax (expense) benefit at statutory rates to the actual income tax (expense) benefit recorded (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Income tax (expense) benefit at federal statutory income tax rate of 21% | $ | (761) |  |  | $ | (9,291) |  |  | $ | (6,513) |
State income tax (expense) benefit, net of U.S. federal income tax benefit | (311) |  |  | (1,219) |  |  | (413) |
Permanent differences | (168) |  |  | (2,342) |  |  | (238) |
Provision to return adjustment | 15 |  |  | 1,971 |  |  | 60 |
Gross receipts and margin taxes | (958) |  |  | (506) |  |  | (199) |
Interest and penalties | 184 |  |  | (199) |  |  | (18) |
Valuation allowance | 1,099 |  |  | 5,250 |  |  | 1,373 |
Total income tax (expense) benefit | $ | (900) |  |  | $ | (6,336) |  |  | $ | (5,948) |
Components of Income Tax Benefit (Expense) From Continuing Operations | The components of income tax (expense) benefit are as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | (195) |  |  | $ | (4,616) |  |  | $ | (4,950) |
State | (733) |  |  | (1,773) |  |  | (885) |
Total current income tax (expense) benefit | (928) |  |  | (6,389) |  |  | (5,835) |
Deferred: |  |  |  |  |
Federal | 28 |  |  | 53 |  |  | (113) |
State | — |  |  | — |  |  | — |
Total deferred income tax (expense) benefit | 28 |  |  | 53 |  |  | (113) |
Total income tax (expense) benefit | $ | (900) |  |  | $ | (6,336) |  |  | $ | (5,948) |
Deferred Tax Asset (Liability) and Related Valuation Allowance | At December 31, 2023 and 2022, our deferred tax asset (liability) and related valuation allowance consisted of the following (in thousands):
| December 31,
| 2023 |  | 2022
Deferred tax assets: |  |  |
Allowance for doubtful accounts | $ | 274 |  |  | $ | 104 |
Unearned income | 812 |  |  | 950 |
Federal and state net operating losses | 23,071 |  |  | 22,367 |
Capital loss carryforward | 5,659 |  |  | 7,440 |
Accrued expenses | 1,598 |  |  | 1,781 |
Tax derivatives basis greater than book basis | 307 |  |  | 315 |
Operating lease liability | 2,295 |  |  | 2,368 |
Other | 271 |  |  | 321 |
Deferred tax assets | 34,287 |  |  | 35,646 |
Valuation allowance | (29,302) |  |  | (31,205) |
Net deferred tax asset | 4,985 |  |  | 4,441 |
Deferred tax liabilities: |  |  |
Prepaid expenses | (31) |  |  | (22) |
Investment in partnership | (487) |  |  | — |
Operating lease right-of-use assets | (2,295) |  |  | (2,368) |
Tax property basis less than book basis | (2,576) |  |  | (2,483) |
Deferred tax liabilities | (5,389) |  |  | (4,873) |
Net deferred tax asset (liability) | $ | (404) |  |  | $ | (432) |
Summarize the Changes in the Valuation Allowance | The following table summarizes the changes in the valuation allowance (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Balance at beginning of year | $ | 31,205 |  |  | $ | 38,810 |  |  | $ | 40,029 |
Additions | — |  |  | — |  |  | — |
Deductions | (1,903) |  |  | (7,605) |  |  | (1,219) |
Balance at end of year | $ | 29,302 |  |  | $ | 31,205 |  |  | $ | 38,810 |

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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