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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Provision

The components of the income tax provision for the three and six months ended June 30, 2017 and 2016 are as follows:

			Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
			June 30, 2017				June 30, 2016				June 30, 2017				June 30, 2016
			(unaudited)				(unaudited)				(unaudited)				(unaudited)
Current:
Federal			$	4,699			$	—			$	10,184			$	—
State				51,838				32,972				100,240				84,362
				56,537				32,972				110,424				84,362
Deferred:
Federal				118,061				403,358				217,419				8,133
State				21,885				76,497				40,577				(15,748	)
				139,946				479,855				257,996				(7,615	)
			$	196,483			$	512,827			$	368,420			$	76,747

Reconciliation of Statutory Federal Income Tax Provision

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

			Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
			June 30, 2017				June 30, 2016				June 30, 2017				June 30, 2016
			(unaudited)				(unaudited)				(unaudited)				(unaudited)
Statutory federal income tax provision			$	446,175			$	846,728			$	1,492,659			$	884,057
Effect of non-taxable REIT income				(323,416	)			(224,433	)			(1,265,057	)			(738,696	)
State income tax provision (benefit)				73,724				(109,468	)			140,818				(68,614	)
			$	196,483			$	512,827			$	368,420			$	76,747

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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=84230637&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=84230637&loc=d3e32687-109319

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