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Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company files a consolidated U.S. federal income tax return and various state income tax returns. The provision for the federal and state income taxes attributable to income (loss) consists of the following components:
Years Ended December 31,
(in thousands)202320222021
Current expense (benefit)
Federal taxes$— $673 $(21,392)
State taxes(170)(186)(2,565)
Total current provision(170)487 (23,957)
Deferred expense (benefit)
Federal taxes3,851 (1,119)25,518 
State taxes(708)(295)(3,255)
Total deferred expense (benefit)3,143 (1,414)22,263 
Income tax expense (benefit)$2,973 $(927)$(1,694)
Effective tax rate27.0 %10.0 %(27.2)%

A reconciliation of income tax expense (benefit) determined by applying the federal and state tax rates to income before income taxes is as follows:
 Years Ended December 31,
(in thousands)202320222021
Expected tax expense (benefit) at federal statutory$2,312 $(1,954)$1,310 
State income tax expense (benefit), net of federal tax effect657 (410)438 
Revaluation of deferred tax liabilities(1,373)— (5,206)
Stranded tax effects reclassified from other comprehensive income— — 1,620 
Excess tax deficiency from share-based compensation and other expense, net854 818 144 
Valuation allowance523 619 — 
Income tax expense (benefit)$2,973 $(927)$(1,694)

The change in effective tax rate between 2023 and 2022 was primarily a result of higher pre-tax income in 2023.

The Company received $25.6 million in cash refunds for income taxes for the year ended December 31, 2023. The Company’s cash payments for income taxes were $0.1 million, $0.1 million, and $11.2 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply in the year of reversal or settlement and arise from temporary differences between the US GAAP and tax bases of the following assets and liabilities:
(in thousands)December 31,
2023		December 31,
2022
Deferred tax assets:
Net operating loss carry-forwards$59,814 $28,398 
Leases14,208 14,809 
Asset retirement obligations2,827 2,972 
Benefit plan obligations1,017 978 
Accruals and stock-based compensation4,075 3,087 
Other7,441 5,767 
Total gross deferred tax assets89,382 56,011 
Less valuation allowance(523)(619)
Net deferred tax assets88,859 55,392 
Deferred tax liabilities:
Property, plant and equipment146,302 109,852 
Leases13,616 14,541 
Intangible assets13,837 12,867 
Prepaid assets and other3,251 2,732 
Total gross deferred tax liabilities177,006 139,992 
Net deferred tax liabilities$88,147 $84,600 

The Company has a deferred tax asset of $59.8 million related to federal and various state net operating losses. As of December 31, 2023, the Company had approximately $261.8 million of federal net operating losses, including approximately $236.9 million of federal net operating losses generated after 2017. Federal net operating losses generated prior to 2018 expire through 2027. The Company also had approximately $97.2 million of state net operating losses, which can be carried forward indefinitely. The Company’s income tax expense (benefit) for the years ended December 31, 2023 and 2022 included tax expense of $0.5 million and $0.6 million, respectively, for the valuation allowance on deferred tax assets related to federal net operating losses expected to expire unused. The Company recorded no valuation allowances prior to December 31, 2022.

As of December 31, 2023 and 2022, the Company had no unrecognized tax benefits. 
The Company’s returns are generally open to examination from 2020 forward and the net operating losses acquired from nTelos are open to examination from 2004 forward. The Company is currently involved in one state income tax audit and no federal income tax audits as of December 31, 2023.