The provision for income taxes for the Fiscal Years 2018, 2017, and 2016 consists of the following (in thousands):

	For the Fiscal Year Ended February 2, 2019			For the Fiscal Year Ended February 3, 2018			For the Fiscal Year Ended January 28, 2017
Current
U.S. Federal	$	11,634		$	17,510		$	17,442
State and local		4,334			4,299			3,686
Total current		15,968			21,809			21,128
Deferred tax benefit
U.S. Federal		(3,513	)		(28,374	)		(3,663	)
State and local		(806	)		1,126			(796	)
Total deferred tax benefit		(4,319	)		(27,248	)		(4,459	)
Total income tax provision (benefit)	$	11,649		$	(5,439	)	$	16,669

A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows for the periods presented:

	For the Fiscal Year Ended February 2, 2019			For the Fiscal Year Ended February 3, 2018			For the Fiscal Year Ended January 28, 2017
Federal statutory income tax rate		21.0	%		33.8	%		35.0	%
State income taxes, net of federal tax effect		6.3	%		4.7	%		4.6	%
Tax rate changes		—			(48.3	)%		—
Acquisition-related costs		—			1.2	%		3.5	%
Nondeductible equity-based compensation expense		0.3	%		0.2	%		0.5	%
Charitable contributions		(0.6	)%		(1.7	)%		—
Tax return to provision adjustments		0.1	%		(1.2	)%		—
Other		0.5	%		0.4	%		(2.7	)%
Effective tax rate		27.6	%		(10.9	)%		40.9	%

The components of deferred tax assets (liabilities) were as follows (in thousands):

	February 2, 2019			February 3, 2018
Deferred tax assets
Accrued expenses	$	6,755		$	5,515
Start-up costs		681			759
Deferred revenue		—			179
Total deferred tax assets		7,436			6,453
Deferred tax liabilities
Inventory		(1,921	)		(2,332	)
Fixed assets		(13,413	)		(12,792	)
Intangible assets		(33,137	)		(35,864	)
Prepaid expenses		(807	)		(1,728	)
Total deferred tax liabilities		(49,278	)		(52,716	)
Net deferred tax liabilities	$	(41,842	)	$	(46,263	)

On December 22, 2017, the U.S. Tax Cuts and Jobs Act (“TCJA”) legislation was signed. Pursuant to the enactment of the aforementioned legislation, the Company re-measured its existing deferred tax assets and liabilities based on a 21% tax rate; the current rate at which they are expected to reverse in the future. Also in December 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which allows the Company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. In Fiscal Year 2017, the Company recorded provisional amounts for certain enactment-date effects of TCJA by applying the guidance in SAB 118 because it had not yet completed the enactment-date accounting for these effects. During Fiscal Year 2018, the Company completed the analysis and accounting for all enactment-date income tax effects of TCJA and found no adjustments were necessary for the provisional amounts recorded as of February 3, 2018.

The Company had no federal or state tax credit carryforwards as of February 2, 2019 and February 3, 2018 and had no federal and an immaterial amount of state net operating loss carryforwards for the same respective periods.

The Company has considered the need for a valuation allowance based on the more likely than not criterion. In determining the need for a valuation allowance, management makes assumptions and applies judgment, including forecasting future earnings and considering the reversals of existing deferred tax liabilities. Based on this analysis, management determined that no valuation allowance was required. The Company performed an analysis of its current and historical tax positions and determined that no material uncertain tax positions exist. Therefore, there is no liability for uncertain tax positions as of February 2, 2019 and February 3, 2018.

The Company’s income tax returns are periodically examined by the Internal Revenue Service (the “IRS”). In prior years, the IRS completed an exam of the 2015 Successor period. On December 12, 2017, at the conclusion of the examination, the Company received a Revenue Agent’s Report, proposing an increase to our U.S. taxable income which resulted in an additional federal tax payment of $1.1 million, subject to interest. The federal tax payment was offset by a deferred tax asset. The Company agreed with the proposed adjustments and settled through payment of the assessment on January 31, 2018. The IRS also completed an examination of the Fiscal Year 2013 income tax return, without adjustment. For federal and state income tax purposes, the Company’s tax years remain open under statute from Fiscal Year 2015 to the present.

J.Jill, Inc. is the parent entity required to file the consolidated income tax return for federal purposes and several state jurisdictions, which include subsidiary entities, Jill Acquisition LLC and J.Jill Gift Card Solutions, Inc. The Company has allocated its share of the parent entity’s federal and combined state income tax accrual, or benefit, in accordance with an intercompany tax allocation policy, which is based on the separate return method.