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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Provision (Benefit) | Income tax provision (benefit) is summarized as follows:
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | (371) |  |  | $ | (371) |
State | 95 |  |  | — |  |  | — |
Total current tax benefit | $ | 95 |  |  | $ | (371) |  |  | $ | (371) |
Deferred: |  |  |  |  |
Federal | $ | 325 |  |  | $ | 430 |  |  | $ | (1,475) |
State | 16 |  |  | 2 |  |  | (30) |
Total deferred tax provision (benefit) | 341 |  |  | 432 |  |  | (1,505) |
Income tax provision (benefit) | $ | 436 |  |  | $ | 61 |  |  | $ | (1,876) |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliation of the statutory federal income tax rate to the Company’s actual rate based on income (loss) before income tax provision (benefit) is summarized below:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Statutory federal tax rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
State income taxes, net of federal income taxes | 1.41 |  |  | 0.89 |  |  | 1.20 |
Permanent tax differences – stock compensation | (3.93) |  |  | (0.43) |  |  | (0.70) |
Permanent tax differences – business meals | 0.23 |  |  | (0.07) |  |  | (0.90) |
Permanent tax differences – executive compensation and other | 2.13 |  |  | (0.86) |  |  | — |
Purchase price allocation adjustment – merger | — |  |  | — |  |  | 5.90 |
Change in valuation allowance | (19.69) |  |  | (19.09) |  |  | (32.30) |
FICA credit generated | (0.28) |  |  | 0.33 |  |  | 2.80 |
Impact of ASC 842 | — |  |  | — |  |  | 7.70 |
Change in tax rate and apportionment | (0.03) |  |  | 0.11 |  |  | (0.30) |
Deferred only adjustment to beginning deferred balances | (0.57) |  |  | (1.92) |  |  | 0.10 |
Effective tax rate | 0.27 | % |  | (0.04) | % |  | 4.50 | %
Schedule of Deferred Tax Assets and Liabilities | The Company’s current and non-current deferred tax assets (liabilities) are comprised of the following:
| December 31,
(In thousands) | 2021 |  | 2020
Deferred tax assets: |  |  |
Accruals and reserves | $ | 7,688 |  |  | $ | 4,315 |
Share-based compensation expense | 5,781 |  |  | 5,469 |
General business credit carryforward | 489 |  |  | 4,500 |
State tax credits | 4,192 |  |  | 5,500 |
Net operating loss carryforwards | 6,076 |  |  | 42,146 |
Operating lease obligation | 41,877 |  |  | 42,039 |
Amortization of intangible assets | — |  |  | 1,073 |
Depreciation of fixed assets | 4,875 |  |  | — |
Other | 545 |  |  | 647 |
| 71,523 |  |  | 105,689 |
Valuation allowances | (30,783) |  |  | (62,724) |
| $ | 40,740 |  |  | $ | 42,965 |
Deferred tax liabilities: |  |  |
Prepaid services | $ | (3,282) |  |  | $ | (715) |
Amortization of intangible assets | (941) |  |  | — |
Depreciation of fixed assets | — |  |  | (5,104) |
Right-of-use assets | (38,378) |  |  | (38,666) |
| (42,601) |  |  | (44,485) |
Net deferred tax liabilities | $ | (1,861) |  |  | $ | (1,520) |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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