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FEDERAL AND STATE INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

FEDERAL AND STATE INCOME TAXES [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax liabilities and assets at December 31 are as follows:

		2012								2011
		(in thousands)
		Current				Long-Term				Current				Long-Term
Deferred tax liabilities:
Property and equipment		$	-			$	69,667			$	-			$	65,236
Unrealized gains on securities			2,591				-				2,879				-
Prepaid expenses and other			4,171				-				4,138				-
Total deferred tax liabilities			6,762				69,667				7,017				65,236
Deferred tax assets:
Allowance for doubtful accounts			439				-				787				-
Alternative minimum tax credit carryforward			-				193				-				215
QAFMV tax credit carryforward			-				864				-				864
New hire tax credit			-				124				-				124
Compensated absences			616				-				668				-
Self-insurance allowances			787				-				767				-
Share-based compensation			-				582				-				448
Goodwill			-				364				-				691
Marketable equity securities			723				-				1,691				-
Net operating loss carryover			-				23,115				-				18,522
Capital loss carryover			915				-				821				-
Non-competition agreement			-				47				-				64
Other			10				10				6				15
Total deferred tax assets			3,490				25,299				4,740				20,943
Net deferred tax liability		$	3,272			$	44,368			$	2,277			$	44,293

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the effective income tax rate and the statutory Federal income tax rate for the years ended December 31, 2012, 2011 and 2010 is presented in the following table:

		2012								2011								2010
		(in thousands)
		Amount				Percent				Amount				Percent				Amount				Percent
Income tax at the statutory federal rate		$	1,222				34.0			$	(1,901	)			34.0			$	(545	)			34.0
Nondeductible expense			138				3.8				171				(3.0	)			217				(13.5	)
QAFMV credit			-				-				-				-				(570	)			35.6
New hire credit			-				-				(124	)			2.2				-				-
State income taxes—net of federal benefit			56				1.6				(879	)			15.7				(50	)			3.1
Total income tax expense (benefit)		$	1,416				39.4			$	(2,733	)			48.9			$	(948	)			59.2

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consisted of the following:

		2012				2011				2010
		(in thousands)
Current:
Federal		$	-			$	-			$	-
State			51				35				195
			51				35				195
Deferred:
Federal			1,166				(1,904	)			(970	)
State			199				(864	)			(173	)
			1,365				(2,768	)			(1,143	)
Total income tax expense (benefit)		$	1,416			$	(2,733	)		$	(948	)

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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

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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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.

+ 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=6907707&loc=d3e32687-109319

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