XML 28 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company’s consolidated balance sheets include a net current deferred tax asset of $1,598,000 and a net non-current deferred tax liability of $2,252,000 at June 30, 2016 and December 31, 2015. The Company evaluates the balance of deferred tax assets that will be realized. Such evaluations are based on the premise that the Company is, and will continue to be, a going concern and that it is more likely than not that deferred tax benefits will be realized through the generation of future taxable income.
Income tax expense for the six months ended June 30, 2016 is estimated to be $2,233,000, or approximately 34% of income before income taxes. Income tax expense for the six months ended June 30, 2015 was estimated to be $3,746,000, or approximately 34% of income before income taxes.
As of June 30, 2016 and December 31, 2015, the Company had no liability for unrecognized tax benefits. The Company does not anticipate that unrecognized tax benefits will significantly change within the next twelve months.
The Company files income tax returns in the U.S., Mexico and various state jurisdictions. The Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years prior to 2012, and is no longer subject to Mexican income tax examinations by Mexican authorities for years prior to 2009.