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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The following table summarizes the provision for income taxes:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Federal: |  |  |  |  |
Current | $ | (27,310) |  |  | $ | 58 |  |  | $ | (1,510) |
Deferred | (6,611) |  |  | (4,520) |  |  | (1,240) |
Benefit for Federal income tax expense | (33,921) |  |  | (4,462) |  |  | (2,750) |
State: |  |  |  |  |
Current | 598 |  |  | 1,100 |  |  | (654) |
Deferred | (3,282) |  |  | 241 |  |  | (1,229) |
Provision (benefit) for State income tax expense | (2,684) |  |  | 1,341 |  |  | (1,883) |
Benefit for income taxes | $ | (36,605) |  |  | $ | (3,121) |  |  | $ | (4,633) |
Tax Expense Reconciliation | The actual income tax expense differs from the expected income tax expense computed by applying the combined applicable effective federal and state tax rates to income before the provision for income taxes as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Expected income tax expense at federal rate | $ | (27,741) |  |  | $ | (6,847) |  |  | $ | (875) |
State tax expense, net of federal deduction benefit | (3,603) |  |  | (882) |  |  | (1,205) |
Dividend received deduction | (141) |  |  | (195) |  |  | (170) |
Other permanent items | 600 |  |  | 1,349 |  |  | 564 |
Prior period accrual adjustment | 2,230 |  |  | 3,415 |  |  | (1,391) |
Net operating loss carryback rate benefit (1) | (12,566) |  |  | — |  |  | — |
Municipal tax-exempt interest | (280) |  |  | (587) |  |  | (735) |
Change in valuation allowance | 5,505 |  |  | 989 |  |  | — |
Change in special loss discount account | — |  |  | — |  |  | (821) |
Change in tax credit carryforward | (721) |  |  | — |  |  | — |
Other, net | 112 |  |  | (363) |  |  | — |
Reported income tax benefit | $ | (36,605) |  |  | $ | (3,121) |  |  | $ | (4,633) |
(1) Pursuant to the recently enacted CARES Act.
Schedule of Deferred Tax Assets and Liabilities | The table below summarizes the significant components of our net deferred tax liability:
| December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Unearned premiums | $ | 16,404 |  |  | $ | 19,482 |
Tax-related discount on loss reserve | 4,027 |  |  | 2,300 |
R&D tax credit carryforward | 1,686 |  |  | — |
Dual consolidated loss carryforward | 6,511 |  |  | 2,181 |
Net operating loss carryforward | 7,900 |  |  | 8,709 |
Other | 1,189 |  |  | 1,451 |
Total pre-allowance deferred tax assets | 37,717 |  |  | 34,123 |
Valuation allowance | (6,494) |  |  | (989) |
Total deferred tax assets | 31,223 |  |  | 33,134 |
Deferred tax liabilities: |  |  |
Deferred acquisitions costs | (20,191) |  |  | (27,939) |
Unrealized gain | (3,253) |  |  | (10,484) |
Intangible assets | (4,553) |  |  | (5,631) |
Prepaid expenses | (725) |  |  | (762) |
Investments | (78) |  |  | (152) |
Fixed assets | (5,618) |  |  | (2,728) |
Outside basis in subsidiary | (974) |  |  | — |
Total deferred tax liabilities | (35,392) |  |  | (47,696) |
Net deferred tax liability | $ | (4,169) |  |  | $ | (14,562) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ended December 31, 2020:
|  | December 31, 2020
Balance at January 1 |  | $ | — |
Additions based on tax positions related to current year |  | 683
Balance at December 31 |  | $ | 683 |

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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=84230637&loc=d3e32639-109319 + Details
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