Income Taxes	9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES The Company assesses available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. The cumulative loss incurred by the Company over the three-year period ended September 30, 2019 constitutes a significant piece of objective negative evidence. Such objective negative evidence limits the ability to consider other subjective evidence, such as our projections for future profitability and growth. Based on this evaluation, for the nine months ended September 30, 2019, the Company maintained a valuation allowance of $11.8 million to reduce net deferred tax assets as their realization did not meet the more-likely-than-not criterion. The amount of deferred tax assets considered realizable, however, could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for future profitability and growth. The Company’s effective tax rate from continuing operations was an expense of 0% and benefit of 29% in the three-month periods ended September 30, 2019 and 2018, respectively, and expense of 1388% and benefit of 72% in the nine-month periods ended September 30, 2019 and 2018, respectively. The valuation allowance recorded in the nine months ended September 30, 2019 was the primary component of tax expense and the resulting effective tax rate. The year-to-date tax rate for both 2019 and 2018 was also impacted by the vesting of restricted stock, which provided an income tax deduction in excess of the compensation deduction for GAAP purposes. As of September 30, 2019, the Company had a $19.1 million valuation allowance to reserve net state and federal deferred tax assets.

Income Taxes

9 Months Ended

Sep. 30, 2019

8. INCOME TAXES

The Company assesses available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. The cumulative loss incurred by the Company over the three-year period ended September 30, 2019 constitutes a significant piece of objective negative evidence. Such objective negative evidence limits the ability to consider other subjective evidence, such as our projections for future profitability and growth. Based on this evaluation, for the nine months ended September 30, 2019, the Company maintained a valuation allowance of $11.8 million to reduce net deferred tax assets as their realization did not meet the more-likely-than-not criterion. The amount of deferred tax assets considered realizable, however, could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for future profitability and growth.

The Company’s effective tax rate from continuing operations was an expense of 0% and benefit of 29% in the three-month periods ended September 30, 2019 and 2018, respectively, and expense of 1388% and benefit of 72% in the nine-month periods ended September 30, 2019 and 2018, respectively. The valuation allowance recorded in the nine months ended September 30, 2019 was the primary component of tax expense and the resulting effective tax rate. The year-to-date tax rate for both 2019 and 2018 was also impacted by the vesting of restricted stock, which provided an income tax deduction in excess of the compensation deduction for GAAP purposes.

As of September 30, 2019, the Company had a $19.1 million valuation allowance to reserve net state and federal deferred tax assets.