TAXES (Tables)

12 Months Ended

Dec. 31, 2018

TAXES

Schedule of income tax provision (benefit)

The Company’s income tax provision (benefit) consists of the following (in thousands):

	Years ended December 31,
	2018		2017		2016
Federal	$	8,680	$	9,933	$	12,834
State		518		417		477
Current tax provision		9,198		10,350		13,311
Federal		(659)		3,738		99
State		12		73		(52)
Deferred tax provision (benefit)		(647)		3,811		47
Total tax provision	$	8,551	$	14,161	$	13,358

Schedule of income tax provision differences to federal statutory rate

	Years ended December 31,
	2018		2017		2016
Federal tax at the statutory rate	21.00	%	35.00	%	35.00	%
State tax (net of federal benefit)	0.99	%	1.00	%	0.70	%
Permanent items	0.90	%	0.34	%	0.27	%
Tax credits	(1.08)	%	(0.82)	%	(0.96)	%
Excess tax benefits on stock-based compensation	(1.94)	%	(3.42)	%	—	%
Tax Cuts and Jobs Act of 2017	—	%	3.57	%	—	%
Other	0.19	%	—	%	0.23	%
	20.06	%	35.67	%	35.24	%

Schedule of components of the deferred income tax assets and liabilities

The components of the deferred income tax assets and liabilities at December 31, 2018 and 2017, as presented in the consolidated balance sheets, are as follows (in thousands): 

	2018		2017
DEFERRED TAX ASSETS
Stock-based compensation	$	2,018	$	1,434
Compensation and benefits		466		555
Bad debt reserves		1		58
Accrued expenses		679		512
Fixed assets and depreciation		1,048		896
Base stock		4		11
State taxes		—		(31)
NOLs & credit carry-forwards		1,761		2,219
Deferred income tax asset	$	5,977	$	5,654
DEFERRED TAX LIABILITIES
Intangibles and amortization	$	(600)	$	(855)
Prepaid expenses		(1,067)		(890)
Real estate taxes		(180)		(191)
Other reserves		(5)		(14)
Federal deduction on deferred state taxes		(98)		(160)
Deferred income tax liability	$	(1,950)	$	(2,110)
NET DEFERRED INCOME TAX ASSET	$	4,027	$	3,544