Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit from Continuing Operations

The income tax expense from continuing operations for the years ended December 31, 2021 and 2020 is comprised of the following (in thousands):

	2021
	Federal		State		Total
Current income tax expense	$	1,142	$	257	$	1,399
Deferred income tax expense (benefit)	$	(215)	$	(34)	$	(249)
Income tax expense	$	927	$	223	$	1,150

	2020
	Federal		State		Total
Current income tax expense	$	1,710	$	270	$	1,980
Deferred income tax expense (benefit)	(1,086)		(123)		$	(1,209)
Income tax expense	$	624	$	147	$	771

Summary of Deferred Tax Assets and Deferred Tax Liabilities Including Valuation Allowance

The following table summarizes the Company’s temporary differences between book and tax accounting that give rise to the deferred tax assets and deferred tax liabilities, as of December 31, 2021 and 2020 (in thousands):

	December 31, 2021		December 31, 2020
DEFERRED TAX ASSETS:
Taxable meter deposits	19		$	22
Balterra intangible asset acquisition	224		224
Deferred gain on ICFA funds received	4,734		4,438
AIAC	3,899		3,706
Other	1,231		1,311
Total deferred tax assets	10,107		9,701
Net deferred tax asset	10,107		9,701
DEFERRED TAX LIABILITIES:
Regulatory liability	(257)		(272)
CP Water intangible asset acquisition	(381)		(381)
ICFA intangible asset	(641)		(705)
Property,  plant and equipment	(10,962)		(11,127)
Gain on condemnation of Valencia	(222)		8
Other Liabilities	(913)		(877)
Total deferred tax liabilities	(13,376)		(13,354)
Net deferred tax liability	$	(3,269)	$	(3,653)