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Income Taxes
3 Months Ended
May 31, 2014
Income Taxes [Abstract]  
Income Tax Disclosure [Text Block]
Income Taxes
Tax Rate For The Three Months Ended May 31, 2014
The effective income tax rate was 47% for the three months ended May 31, 2014. Our effective tax rate was higher than our estimated annual effective tax rate as a discrete expense of $0.9 million was recorded during the quarter. This expense related to the effect of increasing our statutory rate by 1% on existing deferred tax liabilities due to changes in state tax laws and the effect of the WBLS-FM and WLIB-AM LMA on our income apportionments.
Tax Rate For The Three Months Ended May 31, 2013
The effective income tax rate was 3% for the three months ended May 31, 2013. During the three months ended May 31, 2013, the Company was recording a valuation allowance for its net deferred tax assets, including its net operating loss carryforwards.