Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income tax (benefit) provision for the years ended December 31, 2019 and 2018 is as follows:

	2019			2018
	(in thousands)
Current:
Federal	$	—		$	(57	)
State and local		30			20
Foreign		43			156
Total Current		73			119
Deferred:
Federal		1,322			616
State and local		147			(86	)
Foreign		60			46
Total before change in valuation allowance		1,529			576
Change in valuation allowance		(4,709	)		(530	)
Net deferred		(3,180	)		46
Income tax (benefit) provision	$	(3,107	)	$	165

Reconciliation of (Benefit) Provision for Income Taxes

A reconciliation of the (benefit) provision for income taxes and the amount computed by applying the statutory federal income tax rate to income before income taxes is detailed below:

	2019			2018
	(in thousands)
Tax provision at expected statutory rate	$	821		$	330
State taxes, net of federal benefit		92			43
Permanent differences		34			122
Credits		(108	)		(82	)
Foreign tax expense, and other		13			420
Change in rate		63			(138	)
Change in valuation allowance		(4,709	)		(530	)
Permanent true-ups		687			—
(Benefit) provision for income taxes	$	(3,107	)	$	165

Tax Effects of Temporary Differences and Carry-Forwards

Deferred income taxes for 2019 and 2018 were provided for the temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities. Tax effects of temporary differences and carry-forwards at December 31, 2019 and 2018 were as follows:

	December 31, 2019					December 31, 2018
	Deferred Tax					Deferred Tax
	Asset			Liability		Asset			Liability
	(in thousands)
Inventory reserve	$	239		$	—	$	301		$	—
Fixed assets		—			100		—			90
Other reserves and accruals		358			—		207			—
Stock-based compensation		6			—		23			—
Other		—			18		—			24
Tax credit carry-forwards		1,724			—		1,966			—
Federal tax loss carry-forwards		1,169			—		1,980			—
State tax loss carry-forwards		250			—		734			—
Foreign tax loss carry-forwards		67			—		127			—
Total deferred income taxes		3,813		$	118		5,338		$	114
Valuation allowance		(388	)				(5,097	)
Net deferred tax assets	$	3,307				$	127