INCOME TAXES

The current and deferred components of the income tax expense included in the Consolidated Statements of Operations are as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Current:
Federal	$	50		$	210		$	99		$	558
State and local	8			(15		)	59			—
Foreign	80			—			319			—
Total current provision	138			195			477			558

Deferred:
Federal	(97		)	(29		)	(53		)	156
State and local	4			(10		)	5			—
Foreign	105			—			217			—
Total deferred provision (benefit)	12			(39		)	169			156

Total provision for income taxes	$	150		$	156		$	646		$	714

The Company is taxed as a flow-through entity for U.S. income tax purposes and its taxable income or loss generated is the responsibility of its owners. Taxable income or loss generated by the Company’s corporate subsidiaries is subject to U.S. federal, state and foreign corporate income tax in locations where they conduct business.

The Company’s effective tax rate differs from the U.S. federal tax rate of 35% primarily due to a significant portion of its income that is not subject to U.S. corporate tax rates or that is deemed to be foreign sourced and is either not taxable or taxable at effectively lower tax rates.

As of and for the nine months ended September 30, 2015, the Company had not established a liability for uncertain tax positions as no such positions existed. In general, the Company’s tax returns and the tax returns of its corporate subsidiaries are subject to U.S. federal, state and foreign income tax examinations by tax authorities. Generally, the Company is not subject to examination by taxing authorities for tax years prior to 2011. The Company does not believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly change within 12 months of the reporting date.