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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
INCOME TAXES |
Schedule of components of income tax provision | The income tax (benefit) expense attributable to the Company’s income (loss) before income taxes consisted of the following:
(In Thousands) |  | Years Ended December 31,
|  | 2020 |  | 2019
Current Taxes |  |  |  |  |  |
Federal |  | $ | — |  | $ | —
State |  |  | — |  |  | —
|  |  | — |  |  | —
Deferred Taxes |  |  |  |  |  |
Federal |  |  | 157 |  |  | (1,014)
State |  |  | (395) |  |  | (743)
Increase in valuation allowance |  |  | 146 |  |  | 1,837
|  |  | (92) |  |  | 80
|  | $ | (92) |  | $ | 80
Schedule of effective income tax rate reconciliation |
(In Thousands) |  | Years Ended December 31,
|  | 2020 |  | 2019
Current Taxes |  |  |  |  |  |
Federal |  | $ | — |  | $ | —
State |  |  | — |  |  | —
|  |  | — |  |  | —
Deferred Taxes |  |  |  |  |  |
Federal |  |  | 157 |  |  | (1,014)
State |  |  | (395) |  |  | (743)
Increase in valuation allowance |  |  | 146 |  |  | 1,837
|  |  | (92) |  |  | 80
|  | $ | (92) |  | $ | 80
A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows:
(In Thousands) |  | Years Ended December 31,
|  | 2020 |  | 2019
Tax Rate Reconciliation |  | Percent |  | Amount |  | Percent |  | Amount
Federal income tax expense (benefit) at U.S. statutory rate |  | 21.0 | % | $ | 12 |  | 21.0 | % | $ | (1,206)
State taxes, net of federal benefit |  | (567.3) | % |  | (312) |  | 10.2 | % |  | (587)
Change in valuation allowance |  | 265.5 | % |  | 146 |  | (32.0) | % |  | 1,836
Permanent differences |  | 221.8 | % |  | 122 |  | (3.7) | % |  | 215
Credits |  | (118.2) | % |  | (65) |  | 2.7 | % |  | (156)
Other |  | 9.9 | % |  | 5 |  | 0.4 | % |  | (22)
|  | (167.3) | % | $ | (92) |  | (1.4) | % | $ | 80
Schedule of deferred tax assets and liabilities | The Company’s deferred tax assets (liabilities) consisted of the following:
(In Thousands) |  | December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |  |  |
Deferred compensation |  | $ | 637 |  | $ | 591
Intangible assets and amortization |  |  | 3,293 |  |  | 3,761
Net operating loss carry-forwards |  |  | 7,486 |  |  | 7,834
Accrued expenses |  |  | 984 |  |  | 853
Allowance for doubtful accounts |  |  | 40 |  |  | 32
Credits |  |  | 733 |  |  | 668
Common stock warrant liability |  |  | 558 |  |  | 402
Loan Fees |  |  | 157 |  |  | 129
Interest valuation |  |  | 64 |  |  | 65
Interest limitation |  |  | — |  |  | 1,712
Lease liabilities |  |  | 4,045 |  |  | 4,345
Charitable contribution carry-forward |  |  | 137 |  |  | 125
Deferred revenues |  |  | 1,408 |  |  | —
Accrued Social Security |  |  | 291 |  |  | —
Valuation allowance |  |  | (11,108) |  |  | (10,962)
|  |  | 8,725 |  |  | 9,555
Deferred tax liabilities: |  |  |  |  |  |
Depreciation of fixed assets |  |  | (1,054) |  |  | (1,711)
Amortization of indefinite-lived intangibles |  |  | (3,022) |  |  | (2,803)
Prepaid expenses |  |  | (571) |  |  | (656)
Effect of state taxes on future federal returns |  |  | (868) |  |  | (785)
Right of use assets |  |  | (3,856) |  |  | (4,282)
Other |  |  | 26 |  |  | (30)
|  |  | (9,345) |  |  | (10,267)
|  | $ | (620) |  | $ | (712)

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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