XML 25 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1

INCOME TAXES

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

8. INCOME TAXES

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

Year ended December 31,		2017				2016				2015
Current:
Federal		$	200,000				—			$	82,000
Prior year under accrual			—				—				143,000
State			126,000			($	51,000	)			107,000
Deferred:
Federal			2,244,000				(2,015,000	)			2,659,000
State/Local			140,000				—				—
		$	2,710,000			($	2,066,000	)		$	2,991,000

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,		2017				2016				2015
Taxes computed at the federal statutory rate		$	2,882,000			($	1,929,000	)		$	2,722,000
State income tax, net			176,000				(34,000	)			70,000
Prior year true-up			2,000				(3,000	)			325,000
Research and development tax credit			(235,000	)			(246,000	)			(177,000	)
Change in Federal Statutory Rate			(207,000	)			—				—
Permanent differences			92,000				146,000				51,000
Provision for (benefit from) income taxes		$	2,710,000			($	2,066,000	)		$	2,991,000

The components of deferred income tax assets and liabilities are as follows:

Deferred Tax Assets:		2017				2016
Interest rate swap		$	1,000			$	9,000
Allowance for doubtful accounts			32,000				187,000
Credit carryforwards			1,986,000				1,548,000
Deferred rent			126,000				221,000
Stock options			102,000				295,000
Restricted stock			90,000				47,000
Net operating loss carryforward			750,000				5,057,000
Deferred Tax Assets			3,087,000				7,364,000
Deferred Tax Liabilities:
Prepaid expenses			141,000				130,000
Revenue recognition			1,036,000				2,807,000
Property and equipment			276,000				475,000
State taxes			67,000				—
Deferred tax liabilities			1,520,000				3,412,000
Net Deferred Tax Assets		$	1,567,000			$	3,952,000

The Company recognized, for income tax purposes, a tax benefit of $33,000 for the year ended December 31, 2015 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.

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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 Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

+ Details

Name:	us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration