Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Significant Components of Provision for Income Taxes

Significant components of the provision for income taxes for the years ended December 31, 2015, 2014 and 2013 is as follows (in thousands):

	2015			2014		2013
Current:
Federal	$	56		$	113	$	93
State		101			44		59
Total Current Provision	$	157		$	157	$	152
Deferred:
Federal	$	(1,866	)	$	—	$	—
State		(245	)		—		—
Total Deferred Provision (Benefit)	$	(2,111	)	$		$

Reconciliation of Effective Tax Rate and the Federal Statutory Tax Rate

A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31, 2015, 2014 and 2013 is as follows:

	2015			2014			2013
Federal statutory tax rate		34.00	%		34.00	%		34.00	%
State income taxes, net of federal income tax benefit		4.41	%		3.37	%		1.77	%
Non-deductible expenses		(29.17	)%		5.89	%		1.89	%
Non-deductible stock options and warrants		(10.24	)%		4.00	%		14.45	%
Non-deductible tax expense		0.00	%		8.79	%		—	%
Prior year adjustments for stock compensation		(0.26	)%		(27.93	)%		—	%
Other, net		—	%		—	%		0.26	%
Valuation allowance		49.49	%		(15.96	)%		(45.44	)%
Effective tax rate		48.23	%		12.16	%		6.93	%

Current and Non-current Deferred Income Tax Assets and Liabilities

At December 31, 2015 and 2014, our current and non-current deferred income tax assets and liabilities consisted of the following (in thousands):

	2015			2014
Current deferred income tax assets:
Allowance for doubtful accounts	$	15,201		$	1,548
Accrued vacation		962			334
Other accruals		476			—
Other		29			38
Subtotal		16,668			1,920
Less valuation allowance		-			(1,099	)
Total net current deferred income tax assets	$	16,668		$	821
Non-current deferred income tax assets (liabilities):
Net operating loss carry-forwards	$	502		$	1,336
AMT credit carry-forward		152			96
Nonqualified stock options and warrants		1,377			560
Accumulated depreciation and amortization		(34,440	)		(1,672	)
Subtotal		(32,409	)		320
Less valuation allowance		—			(1,141	)
Total net non-current deferred income tax liability		(32,409	)		(821	)
Net deferred income tax asset (liability)	$	(15,741	)	$	—