Note 9 - Income Taxes

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

9 . INCOME TAXES

The Company uses a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company’s effective tax rate for

2019

and

2018

reflects the recognition of expected federal alternative minimum tax liabilities and interim period tax benefits and changes to its tax valuation allowance.

In accordance with The Tax Cuts and Jobs Act of

2017,

the Company eliminated

$91.3

million of Alternative Minimum Tax (AMT) net operating loss carry forwards at

December 31, 2018

and recognized as income tax benefit

$5.0

million from its unused AMT credit carry forwards. The Company expects to receive

50%,

or

$2.5

million, of said credit in

2020

and the remaining balance to be received over the following

two

years.