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Income Taxes | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | Income tax expense is comprised of the following (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Federal: |  |  |  |  |  |
Current |  | $ | (1 | ) |  | $ | 334 |
Deferred |  |  | 440 |  |  |  | 119 |
|  |  | 439 |  |  |  | 453 |
State: |  |  |  |  |  |  |  |
Current |  |  | 91 |  |  |  | 85 |
Deferred |  |  | 19 |  |  |  | 34 |
|  |  | 110 |  |  |  | 119 |
|  | $ | 549 |  |  | $ | 572 |
The provision for income taxes differs from the amount determined by applying the federal statutory tax rate to pre-tax income as a result of the following (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Income taxes at statutory rate |  | $ | 527 |  |  |  | 21.0 | % |  | $ | 474 |  |  |  | 21.0 | %
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal benefit |  |  | 81 |  |  |  | 3.2 | % |  |  | 89 |  |  |  | 4.0 | %
Deferred true-ups |  |  | (127 | ) |  |  | (5.1 | )% |  |  | 58 |  |  |  | 2.6 | %
Provision-to-return |  |  | 81 |  |  |  | 3.2 | % |  |  | (19 | ) |  |  | (0.8 | )%
Rate change |  |  | (42 | ) |  |  | (1.7 | )% |  |  | — |  |  |  | — | %
Other |  |  | 29 |  |  |  | 1.3 | % |  |  | (30 | ) |  |  | (1.5 | )%
|  | $ | 549 |  |  |  | 21.9 | % |  | $ | 572 |  |  |  | 25.3 | %
Deferred tax assets (liabilities) are as follows (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 21 |  |  | $ | 26 |
Allowance for doubtful accounts |  |  | 81 |  |  |  | 53 |
Amortization - Intangibles |  |  | 4 |  |  |  | — |
Charitable contributions |  |  | 43 |  |  |  | — |
Accrued liabilities |  |  | 7 |  |  |  | — |
Accrued vacation |  |  | 76 |  |  |  | 78 |
Deferred buy-back asset |  |  | 1,776 |  |  |  | 1,645 |
Deferred income |  |  | 304 |  |  |  | 198 |
Right-of-use asset |  |  | 91 |  |  |  | — |
Other |  |  | 83 |  |  |  | 76 |
Gross deferred tax assets |  |  | 2,486 |  |  |  | 2,076 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Retainage |  |  | (518 | ) |  |  | (425 | )
Deferred buy-back obligation |  |  | (1,421 | ) |  |  | (1,324 | )
Fixed assets |  |  | (2,236 | ) |  |  | (1,667 | )
Prepaids |  |  | (104 | ) |  |  | (78 | )
Unrealized gain loss |  |  | (2 | ) |  |  | (9 | )
Lease liability |  |  | (91 | ) |  |  | — |
Gross deferred tax liabilities |  |  | (4,372 | ) |  |  | (3,503 | )
Valuation allowance |  |  | — |  |  |  | — |
Net deferred tax liability |  | $ | (1,886 | ) |  | $ | (1,427 | )
As of December 31, 2019, the Company had approximately $2,490 of state NOL's available to offset future state taxable income. The state NOL's begin expiring at various times between 2028 and 2037.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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