Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Our provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2020		2019		2018
Current:
State and local	$	(248)	$	(284)	$	(3,156)
Deferred:
State and local	—		(1,000)		—
Income tax expense	$	(248)	$	(1,284)	$	(3,156)

Schedule of Reconciliation of Effective Tax Rate and the U.S. Federal Statutory Income Tax Rate

A reconciliation of our effective tax rate and the U.S. Federal statutory income tax rate is as follows:

	Year Ended December 31,
	2020		2019		2018
Taxes at statutory U.S. federal income tax rate	21.00	%	21.00	%	21.00	%
Dividends paid deduction and net operating loss utilization	(21.00)	%	(21.00)	%	(21.00)	%
Federal taxes on built-in gain	—	%	—	%	—	%
State and local income taxes	0.05	%	0.26	%	1.14	%
Effective tax rate	0.05	%	0.26	%	1.14	%