Income Taxes - (Tables)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of effective income tax rate reconciliation

Income tax (benefit) expense attributable to income from operations differed from the amount computed by applying the statutory federal income tax rate of 21% as of March 31, 2018 and 35% as of March 31, 2017 to pre-tax income or loss as a result of the following: 

	Three Months Ended   March 31,
	2018			2017
Tax at the federal statutory rate	$	107		$	2,326
State income taxes (net of federal benefit)	22			233
2017 qualified timber gains at the federal statutory rate of 23.8% (1)	(345		)	—
Decrease in valuation allowance	(33		)	(280		)
Total income tax (benefit) expense	$	(249	)	$	2,279

(1) The Bipartisan Budget Act of 2018 was signed into law on February 9, 2018 (the “2018 Act”). The 2018 Act retroactively re-established the preferential 23.8% tax rate on C Corporation Qualified Timber Gains, extending its applicability from 2016 to include the 2017 tax year. The benefit of this retroactive tax rate reduction is being included in 2018 income from continuing operations.