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INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2012
INCOME TAXES [Abstract] |
INCOME TAXES | 8 INCOME TAXES The provision for income taxes consists of the following:
Years ended December 31, | 2012 | 2011 | 2010
Current: |  |  |
Federal | $5,503,000 | $3,220,000 | $435,000
Prior year over accrual State | --- --- | --- 5,000 | (157,000) ---
Deferred: |  |  |
Federal | 11,000 | (103,000) | (265,000)
| $5,514,000 | $3,122,000 | $13,000
The difference between the income tax provision computed at the federal statutory rate and the actual tax provision is accounted for as follows:
December 31, | 2012 | 2011 | 2010
Taxes computed at the federal |  |  |
statutory rate State income tax, net | $5,701,000 -- | $3,583,000 3,000 | $237,000 ---
Prior year true-up | 47,000 | (61,000) | (157,000)
Permanent differences | (234,000) | (403,000) | (67,000)
Provision for Income Taxes | $5,514,000 | $3,122,000 | $13,000
The components of deferred income tax assets and liabilities are as follows:
Deferred Tax Assets: | 2012 | 2011
Revenue recognition | $422,000 | $231,000
Allowance for doubtful accounts | 112,000 | 26,000
Deferred tax asset-current | 534,000 | 257,000
Deferred rent | 175,000 | 141,000
Stock options | 805,000 | 953,000
Interest rate swap | 21,000 | 11,000
Deferred Tax Assets-non current | 1,001,000 | 1,105,000
Deferred Tax Liabilities: |  |
Prepaid expenses | 102,000 | 125,000
Deferred Tax Liabilities-current | 102,000 | 125,000
Property and equipment | 867,000 | 660,000
Deferred tax liability-noncurrent | 867,000 | 660,000
Net Deferred Tax Assets (Liabilities) | $566,000 | $577,000
The Company recognized, for income tax purposes, a tax benefit of $313,000, $438,000 and $304,000 for the years ended December 31, 2012, 2011 and 2010, respectively, for compensation expense related to its stock option plan for which no corresponding charge to operations has been recorded. Such amounts have been added to additional paid-in capital in those years.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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