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Income Taxes (Notes) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company files a consolidated federal income tax return. It is the policy of the Company to allocate the consolidated tax provision to subsidiaries as if each subsidiary’s tax liability or benefit were determined on a separate company basis. As part of the consolidated group, subsidiaries transfer to the Company their current federal tax liabilities or assets. The following table represents the Company's provision for income taxes:
| As of December 31,
| 2016 |  | 2015 |  | 2014
Current city income tax provision | $ | 1,321,675 |  |  | $ | 1,245,285 |  |  | $ | 935,612 |
Current state income tax provision | 642,598 |  |  | 335,897 |  |  | 429,147 |
Current federal income tax provision | 24,234,050 |  |  | 22,874,571 |  |  | 15,015,813 |
Deferred federal income tax expense (benefit) | 469,312 |  |  | (3,547,088 | ) |  | 2,404,433 |
Provision for income taxes | $ | 26,667,635 |  |  | $ | 20,908,665 |  |  | $ | 18,785,005 |
A reconciliation of income tax expense at the statutory federal rate to the Company’s income tax expense is as follows:
| 2016 |  | 2015 |  | 2014
Income tax computed at statutory rate | $ | 25,641,618 |  |  | $ | 20,294,107 |  |  | $ | 17,628,078 |
City and state income taxes, net of federal benefit | 1,276,777 |  |  | 1,027,768 |  |  | 887,093 |
Other | (250,760 | ) |  | (413,210 | ) |  | 269,834 |
Income tax expense | $ | 26,667,635 |  |  | $ | 20,908,665 |  |  | $ | 18,785,005 |
Net deferred tax assets consisted of the following at December 31, 2016 and 2015:
| 2016 |  | 2015
Stock-based compensation | $ | 4,450,129 |  |  | $ | 6,077,629 |
Accrued compensation | 7,355,744 |  |  | 4,724,670 |
Unrealized gains | (1,802,708 | ) |  | (722,466 | )
Property and equipment | (779,391 | ) |  | (815,825 | )
Other assets and liabilities | (487,007 | ) |  | (57,929 | )
Net deferred tax assets | $ | 8,736,767 |  |  | $ | 9,206,079 |
The net temporary differences incurred to date will reverse in future periods as the Company generates taxable earnings. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income to realize the net deferred tax assets recorded. The Company records a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2016, no valuation allowance was deemed necessary. The Company's income taxes payable has been reduced by the tax benefits from equity incentive plan awards. These tax benefits are considered windfall tax benefits under ASC 718 and are recognized as an increase to common stock. For Restricted Stock, the Company receives an excess income tax benefit calculated as the tax effect of the difference between the fair market value of the stock at the time of grant and vesting. The Company also records a tax benefit on dividends paid on Restricted Stock during the vesting period. The Company had net tax benefits from equity awards of $6.3 million, $2.9 million, and $1.0 million, for the years ended December 31, 2016, 2015 and 2014, respectively. FASB ASC 740, Income Taxes, prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company did not record an accrual for tax related uncertainties or unrecognized tax positions as of December 31, 2016. The Company does not expect a change to the reserve for uncertain tax positions within the next twelve months that would have a material impact on the consolidated financial statements. The Company files income tax returns in the federal and in all applicable state and local jurisdictions. The Company is subject to federal, state and local examinations by tax authorities for the tax years ended December 31, 2013 through 2016.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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