Income Taxes (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31,
	2016		2015
Current Federal alternative minimum tax (“AMT”) expense	$	62,000	$	38,000
Current state and local tax expense		61,000		—
Deferred Federal tax expense (A)		811,000		622,000
Deferred state and local tax expense		53,000		87,000
Consolidated income tax expense, including taxes attributable to discontinued operations (B)		987,000		747,000
Less income tax expense (benefit) attributable to discontinued operations		—		(47,000)
Income tax expense (C)	$	987,000	$	794,000

(A)	Includes an AMT (benefit) of $(62,000) in 2016 and $(38,000) in 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.