INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Components Of Income Tax Expense

Income tax expense (benefit) is comprised of the following components (in thousands):

	For the Years Ended December 31,
	2015		2014			2013
Current income tax expense (benefit)
Federal	$	2,519	$	9,326		$	13,674
State		136		828			2,368
		2,655		10,154			16,042
Deferred income tax expense (benefit)
Federal		5,589		(2,280	)		(144,771	)
State		117		(931	)		(6,266	)
		5,706		(3,211	)		(151,037	)
Income tax expense (benefit)	$	8,361	$	6,943		$	(134,995	)

Components of Deferred Tax Assets and Liabilities

Significant components of CCA’s deferred tax assets and liabilities as of December 31, 2015 and 2014, are as follows (in thousands):

	December 31,
	2015			2014
Noncurrent deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	28,589		$	31,634
Tax over book basis of certain assets		893			924
Net operating loss and tax credit carryforwards		5,287			5,008
Intangible contract value		2,717			2,877
Other		460			579
Total noncurrent deferred tax assets		37,946			41,022
Less valuation allowance		(3,780	)		(4,065	)
Total noncurrent deferred tax assets		34,166			36,957
Noncurrent deferred tax liabilities:
Book over tax basis of certain assets		(15,238	)		(11,332	)
Intangible lease value		(8,862	)		(9,431	)
Other		(242	)		(664	)
Total noncurrent deferred tax liabilities		(24,342	)		(21,427	)
Net total noncurrent deferred tax assets	$	9,824		$	15,530

Reconciliation of Income Tax Provision at Statutory Income Tax Rate and Effective Tax Rate

A reconciliation of the income tax provision at the statutory income tax rate and the effective tax rate as a percentage of income from continuing operations before income taxes for the years ended December 31, 2015, 2014, and 2013 is as follows:

	2015			2014			2013
Statutory federal rate		35.0	%		35.0	%		35.0	%
Dividends paid deduction		(31.9	)		(31.1	)		(30.7	)
State taxes, net of federal tax benefit		0.9			0.8			1.1
Permanent differences		0.4			0.1			3.0
Impact of REIT election		—			—			(87.0	)
Other items, net		(0.8	)		(1.4	)		(1.0	)
		3.6	%		3.4	%		(79.6	)%