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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

INCOME TAXES [Abstract]

Components of Income Tax Expense

Components of Income Tax Expense
In thousands	For the Year Ended December 31,
State income taxes	2018					2017				2016
Current		$	1,768			$	489			$	1,050
Deferred			71				1,368				860
Total state income tax expense		$	1,839			$	1,857			$	1,910
	For the Year Ended December 31,
Federal income taxes			2018				2017				2016
Current		$	2,404			$	(1,418	)		$	1,799
Deferred			748				6,856				4,622
Total federal income tax expense		$	3,152			$	5,438			$	6,421

Reconciliation of Effective Tax Rate

Reconciliation of effective tax rate:
	For the Year Ended December 31,
In thousands	2018				2018				2017				2017				2016				2016
	Amount				Percent				Amount				Percent				Amount				Percent
Reconciliation of effective tax rate
Income before federal and state income taxes		$	19,270				100.0	%		$	21,278				100.0	%		$	21,285				100.0	%
Amount computed at statutory rate			4,047				21.0	%			7,234				34.0	%			7,237				34.0	%
Reconciling items
State income tax-net of federal tax benefit			1,350				7.0	%			1,297				6.1	%			1,327				6.2	%
Regulatory liability adjustment			(920	)			(4.8	)%			—				0.0	%			—				0.0	%
Federal rate change and TCJA effect			325				1.7	%			(957	)			(4.5	)%			—				0.0	%
Other			189				1.0	%			(279	)			(1.3	)%			(233	)			(1.1	)%
Total income tax expense and effective rate		$	4,991				25.9	%		$	7,295				34.3	%		$	8,331				39.1	%

Deferred Income Taxes

Deferred income taxes at December 31, 2018, 2017, and 2016 were comprised of the following:

		For the Year Ended December 31,
In thousands		2018				2017				2016
Deferred tax assets related to:
Federal alternative minimum tax credit carry-forwards		$	—			$	—			$	2,474
Federal and state operating loss carry-forwards			1,050				1,094				752
Less: valuation allowance			(396	)			(360	)			(286	)
Bad debt allowance			65				80				104
Stock options			202				207				452
Other			85				161				320
Total deferred tax assets		$	1,006			$	1,182			$	3,816
Deferred tax liabilities related to:
Property plant and equipment basis differences		$	(53,296	)		$	(52,629	)		$	(70,711	)
Bond retirement costs			(1,361	)			(1,437	)			—
Uncertain tax position			(283	)			(145	)			(80	)
Expenses of rate proceedings			(2	)			(8	)			(19	)
Property taxes			(521	)			(500	)			(663	)
Other			(597	)			(600	)			(796	)
Total deferred tax liabilities		$	(56,060	)		$	(55,319	)		$	(72,269	)
Net deferred tax liability		$	(55,054	)		$	(54,137	)		$	(68,453	)

Schedule of Valuation Allowance

Schedule of Valuation Allowance
	Balance at Beginning of Period				Additions Charged to Costs and Expenses				Deductions				Balance at End of Period
In thousands
Classification
For the Year Ended December 31, 2018 Valuation allowance for deferred tax assets		$	360			$	36				—			$	396
For the Year Ended December 31, 2017 Valuation allowance for deferred tax assets		$	286			$	74				—			$	360
For the Year Ended December 31, 2016 Valuation allowance for deferred tax assets		$	182			$	104				—			$	286

Schedule of Unrecognized Tax Benefits Roll Forward

The following table provides the changes in the Company's uncertain tax position:

		For the years ended December 31,
In thousands		2018				2017
Balance at beginning of year		$	145			$	80
Additions based on tax positions related to the current year			130				118
Additions based on tax positions related to prior years			13				8
Reductions for tax positions of prior years			—				—
Settlements			—				—
Federal tax rate change			(5	)			(61	)
Lapses in statutes of limitations			—				—
Balance at end of year		$	283			$	145

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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.

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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.

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