Federal and State Income Taxes

3 Months Ended

Mar. 31, 2014

(13) Federal and State Income Taxes

The reconciliations of income (loss) attributable to continuing operations at the U.S. federal statutory tax rate to income tax expense are as follows (in thousands):



	Three Months Ended
	March 31,
	2014			2013
Amount:
Federal statutory tax	$	40,090		$	47,654
Tax exempt revenue	(1,991		)	(1,742		)
Effect of state income taxes, net of federal benefit	2,870			3,378
Utilization of tax credits	(2,630		)	(1,722		)
Bank-owned life insurance	(768		)	(885		)
Charitable contributions to BOKF Foundation	(427		)	—
Other, net	357			413
Total	$	37,501		$	47,096



	Three Months Ended
	March 31,
	2014		2013
Percent of pretax income:
Federal statutory tax	35	%	35	%
Tax exempt revenue	(2	)	(1	)
Effect of state income taxes, net of federal benefit	3		3
Utilization of tax credits	(2	)	(1	)
Bank-owned life insurance	(1	)	(1	)
Charitable contributions to BOKF Foundation	—		—
Other, net	—		—
Total	33	%	35	%

- 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