INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following:

Year ended December 31,

	2013			2012		2011
Current taxes:
Federal	$	2,724,597		$	686,968	$	-
State		25,491			12,182		3,525
Total current taxes		2,750,088			699,150		3,525
Deferred taxes:
Federal		(68,298	)		1,134,532		(1,219,190	)
State		3,023			340,372		(122,593	)
Total deferred taxes		(65,274	)		1,474,904		(1,341,783	)
Total provision for income taxes	$	2,684,814		$	2,174,054	$	(1,338,258	)

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate of the Company differs from the federal statutory tax rate of 34% due to the following items:

Year ended December 31,

	2013			2012			2011
Statutory rate		34.00	%		34.00	%		34.0	%
State income taxes, net of federal income tax benefit		0.21	%		0.16	%		7.1	%
Stock-based compensation		0.11	%		1.51	%		4.0	%
Change in effective state tax rate		0.02	%		6.59	%		-
Other, net		(0.66	)%		(0.08	)%		(5.9	)%
Increase (decrease) in valuation allowance		-			-			(64.6	)%
Effective tax rate (benefit)		33.68	%		42.18	%		(25.4	%)

Schedule of Deferred Tax Asset

The components of deferred income tax assets and liabilities are as follows:

Year ended December 31,

	2013		2012		2011
Tax credit carry forward	$	-	$	-	$	1,027,633
Deferred revenues		71,062		132,514		293,297
Other		71,304		27,322		17,253
Options		1,365,409		1,413,214		1,687,780
Net operating loss carry forward		-		-		21,992
Net deferred tax assets before valuation allowance		1,507,776		1,573,050		3,047,955
Valuation allowance		-		-		-
Net deferred tax asset	$	1,507,776	$	1,573,050	$	3,047,955