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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Summary of consolidated Federal income tax return | 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 |
Summary of reconciliation of income tax expense | 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 |
Summary of Deferred tax assets and liabilities | 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 |

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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://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 + 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://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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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
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