Income Taxes	6 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	(11) Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are more likely than not to be realized. As of December 31, 2019, the Company established a valuation allowance against all of its net deferred tax assets. For the three months ended December 31, 2019 and 2018, the Company incurred pre-tax losses in the amount of $2.1 million and $2.2 million, respectively. For the six months ended December 31, 2019 and 2018, the Company incurred pre-tax losses in the amount of $4.2 million and $4.4 million, respectively. The total effective tax rate was approximately 0% for the each of the three and six months ended December 31, 2019 and 2018. For each of the six months ended December 31, 2019 and 2018, the Company’s effective tax rate differed from the federal statutory rate of 21%, primarily due to the valuation allowance placed against its net deferred tax assets. The Tax Cuts and Jobs Act was enacted on December 22, 2017 and provides for a refundable credit of any AMT previously paid. The AMT credit still to be received by the Company of $429 thousand for AMT previously paid will be refunded subsequent to the filing of returns for fiscal years ending June 30, 2020, June 30, 2021 and June 30, 2022. Credit amounts calculated for such years are $214 thousand, $107 thousand, and $107 thousand, respectively. FASB ASC 740, “Income Taxes” addresses the accounting for uncertainty in income tax recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken or expected to be taken on a tax return. The Company had no unrecognized tax benefit for the three and six months ended December 31, 2019 or 2018. Loss carryovers are generally subject to modification by tax authorities until three years after they have been utilized; as such, the Company is subject to examination for the fiscal years ended 2000 through present for federal purposes and fiscal years ended 2006 through present for state purposes. The reason for this extended examination period is due to the utilization of the loss carryovers generated by the sale of our Astrotech Space Operations business unit in fiscal year 2015.

Income Taxes

6 Months Ended

Dec. 31, 2019

(11) Income Taxes

The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are more likely than not to be realized. As of December 31, 2019, the Company established a valuation allowance against all of its net deferred tax assets.

For the three months ended December 31, 2019 and 2018, the Company incurred pre-tax losses in the amount of $2.1 million and $2.2 million, respectively. For the six months ended December 31, 2019 and 2018, the Company incurred pre-tax losses in the amount of $4.2 million and $4.4 million, respectively. The total effective tax rate was approximately 0% for the each of the three and six months ended December 31, 2019 and 2018.

For each of the six months ended December 31, 2019 and 2018, the Company’s effective tax rate differed from the federal statutory rate of 21%, primarily due to the valuation allowance placed against its net deferred tax assets.

The Tax Cuts and Jobs Act was enacted on December 22, 2017 and provides for a refundable credit of any AMT previously paid. The AMT credit still to be received by the Company of $429 thousand for AMT previously paid will be refunded subsequent to the filing of returns for fiscal years ending June 30, 2020, June 30, 2021 and June 30, 2022. Credit amounts calculated for such years are $214 thousand, $107 thousand, and $107 thousand, respectively.

FASB ASC 740, “Income Taxes” addresses the accounting for uncertainty in income tax recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken or expected to be taken on a tax return. The Company had no unrecognized tax benefit for the three and six months ended December 31, 2019 or 2018.

Loss carryovers are generally subject to modification by tax authorities until three years after they have been utilized; as such, the Company is subject to examination for the fiscal years ended 2000 through present for federal purposes and fiscal years ended 2006 through present for state purposes. The reason for this extended examination period is due to the utilization of the loss carryovers generated by the sale of our Astrotech Space Operations business unit in fiscal year 2015.