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INCOME TAXES
 3 Months Ended
Mar. 31, 2013
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
INCOME TAXES

The Company’s Federal and state income tax expense (benefit) from continuing operations is summarized in the following table (in thousands):

 
 
Three Months Ended
March 31,
 
 
2013
 
2012
Current
 
 
 
 
Federal
 
$
(519
)
 
$
(29
)
State
 
120

 
(173
)
Total Current
 
(399
)
 
(202
)
Deferred
 
 

 
 

Federal
 
399

 
(262
)
State
 
58

 
(38
)
Total deferred
 
457

 
(300
)
Total income tax expense (benefit)
 
$
58

 
$
(502
)


The Company’s reconciliation of the statutory rate from continuing operations to the effective income tax rate is as follows for the three months ended March 31, 2013 and 2012 (in thousands):

 
 
Three Months Ended
March 31,
 
 
2013
 
2012
Tax benefit at statutory rate
 
$
(2,594
)
 
$
(884
)
State tax benefit, net of Federal taxes
 
(47
)
 
(103
)
Change in tax contingencies
 
(512
)
 
6

Valuation allowance changes affecting income tax expense
 
2,818

 
430

Transaction related costs
 
236

 
—

Officers compensation and other
 
157

 
49

Income tax expense (benefit)
 
$
58

 
$
(502
)