XML 15 R9.htm IDEA: XBRL DOCUMENT

Note 3 - Income Taxes

3 Months Ended

Mar. 31, 2014

3.	INCOME TAXES

The Company’s effective tax rate decreased to 34.6% for the three-month period ended March 31, 2014, compared to 37.3% for the same period in 2013. This decrease was primarily due to a decrease in projected state tax rates due to legislative changes.

The unrecognized tax benefit as of March 31, 2014, was $188,000, excluding interest of $5,000 and no penalties. The full unrecognized tax benefits, if recognized, would favorably impact the effective income tax rate. The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will stay consistent during the next 12 months due to any growth in unrecognized tax benefits being offset by the expiration of the U.S. federal statute of limitations associated with certain other tax positions. The Company accrues interest and penalties related to uncertain tax position in the statements of income as income tax expense.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details