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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Benefit

The components of the income tax benefit for the three and nine months ended September 30, 2015 and 2014 are as follows:

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		September 30, 2015				September 30, 2014				September 30, 2015				September 30, 2014
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Current:
Federal		$	67,708			$	9,285			$	67,708			$	32,285
State			311,468				93,890				419,424				209,379
			379,176				103,175				487,132				241,664
Deferred:
Federal			(774,207	)			(659,931	)			(424,111	)			(917,792	)
State			(118,474	)			(165,414	)			(59,766	)			(217,578	)
			(892,681	)			(825,345	)			(483,877	)			(1,135,370	)
		$	(513,505	)		$	(722,170	)		$	3,255			$	(893,706	)

Reconciliation of Statutory Federal Income Tax Benefit

A reconciliation of the statutory federal income tax benefit to the Company’s income tax benefit is as follows:

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		September 30, 2015				September 30, 2014				September 30, 2015				September 30, 2014
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Statutory federal income tax expense		$	1,536,869			$	(340,744	)		$	2,553,376			$	877,590
Effect of non-taxable REIT income			(2,243,368	)			(309,902	)			(2,909,779	)			(1,763,096	)
State income tax benefit			192,994				(71,524	)			359,658				(8,200	)
		$	(513,505	)		$	(722,170	)		$	3,255			$	(893,706	)

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- References

No definition available.

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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://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

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 12



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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