INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

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


	For the Years Ended December 31,
	2016			2015		2014
Current income tax expense
Federal	$	10,181		$	2,519	$	9,326
State		1,983			136		828

		12,164			2,655		10,154

Deferred income tax expense (benefit)
Federal		(3,400	)		5,589		(2,280	)
State		(511	)		117		(931	)

		(3,911	)		5,706		(3,211	)

Income tax expense	$	8,253		$	8,361	$	6,943

Components of Deferred Tax Assets and Liabilities

Significant components of CoreCivic’s deferred tax assets and liabilities as of December 31, 2016 and 2015, are as follows (in thousands):


	December 31,
	2016			2015
Noncurrent deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	29,198		$	28,589
Tax over book basis of certain assets		866			893
Net operating loss and tax credit carryforwards		5,487			5,287
Intangible contract value		2,570			2,717
Other		346			460

Total noncurrent deferred tax assets		38,467			37,946
Less valuation allowance		(3,436	)		(3,780	)

Total noncurrent deferred tax assets		35,031			34,166


Noncurrent deferred tax liabilities:
Book over tax basis of certain assets		(9,386	)		(15,238	)
Intangible lease value		(8,368	)		(8,862	)
Other		(3,542	)		(242	)

Total noncurrent deferred tax liabilities		(21,296	)		(24,342	)

Net total noncurrent deferred tax assets	$	13,735		$	9,824

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, 2016, 2015, and 2014 is as follows:


	2016			2015			2014
Statutory federal rate		35.0	%		35.0	%		35.0	%
Dividends paid deduction		(32.5	)		(31.9	)		(31.1	)
State taxes, net of federal tax benefit		1.1			0.9			0.8
Permanent differences		0.3			0.4			0.1
Other items, net		(0.3	)		(0.8	)		(1.4	)

		3.6	%		3.6	%		3.4	%