Income Taxes (Tables)

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2015		2014		2015		2014
Current Federal alternative minimum tax (“AMT”) expense	$	81,000	$	12,000	$	119,000	$	12,000
Current state and local tax expense		96,000		34,000		96,000		34,000
Deferred Federal tax expense (A)		1,738,000		480,000		2,360,000		846,000
Deferred state and local tax expense (benefit)		(559,000)		118,000		(472,000)		122,000
Consolidated income tax expense, including taxes attributable to discontinued operations (B)		1,356,000		644,000		2,103,000		1,014,000
Less income tax expense (benefit) attributable to discontinued operations		755,000		(82,000)		708,000		(317,000)
Income tax expense (C)	$	601,000	$	726,000	$	1,395,000	$	1,331,000
(A)   Includes an AMT (benefit) of $(81,000) and $(119,000) in the three and six months ended June 30, 2015. (B)   Includes income tax (benefit) attributable to (loss) from discontinued operations. (C)   Reflects the tax expense from continuing operations as reported on the consolidated statements of operations for the periods presented.