Note 20. Taxes

For the nine months ended September 30, 2014 and 2013, we recognized a provision for income taxes of $4 million and $9 million, respectively. The following is a reconciliation of the statutory federal and state tax rates to our projected annual effective rate at September 30, 2014 and 2013.

Reconciliation of Statutory Tax Rate to Effective Tax Rate


	September 30, 2014		September 30, 2013
Federal statutory rate		34.0 %		34.0 %
State statutory rate, net of Federal tax effect		7.2 %		7.2 %
Differences in taxable (loss) income from GAAP income		(10.0)%		(2.1)%
Change in valuation allowance		(1.0)%		(18.5)%
Dividends paid deduction		(25.4)%		(14.8)%

Effective Tax Rate		4.8 %		5.8 %

We assessed our tax positions for all open tax years (Federal — years 2011 to 2014, State — years 2010 to 2014) and, at September 30, 2014 and December 31, 2013, concluded that we had no uncertain tax positions that resulted in material unrecognized tax benefits.