INCOME TAXES



	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(in thousands, except percentages)
Income tax (expense) benefit	$	(272	)	$	83		$	(579	)	$	84
Effective tax rate	4.1		%	3.2		%	4.7		%	2.6		%

Tax expense for the three and six months ended June 30, 2015 is primarily comprised of the federal Alternative Minimum Tax and state taxes.

For the three and six months ended June 30, 2015 and 2014, the effective tax rates varied from the statutory rate primarily due to the existence of a valuation allowance that has been provided to offset the Company's net deferred tax asset and state taxes.

Valuation Allowance

There has been no change to the Company's valuation allowance assessment for the three and six months ended June 30, 2015.