Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Summary of consolidated Federal income tax return

As part of the consolidated group, subsidiaries transfer to the Company their current federal tax liabilities or assets.

	As of December 31,
	2015			2014		2013
Current city income tax provision	$	1,245,285		$	935,612	$	952,957
Current state income tax provision	335,897			429,147		268,920
Current federal income tax provision	22,874,571			15,015,813		17,866,911
Deferred federal income tax expense (benefit)	(3,547,088		)	2,404,433		(5,611,451		)
Provision for income taxes	$	20,908,665		$	18,785,005	$	13,477,337

Summary of reconciliation of income tax expense

A reconciliation of income tax expense at the statutory federal rate to the Company’s income tax expense is as follows:

	2015			2014		2013
Income tax computed at statutory rate	$	20,294,107		$	17,628,078	$	12,471,258
City and state income taxes, net of federal benefit	1,027,768			887,093		794,220
Other	(413,210		)	269,834		211,859
Income tax expense	$	20,908,665		$	18,785,005	$	13,477,337

Summary of Deferred tax assets and liabilities

Net deferred tax assets consist of the following at December 31, 2015 and 2014:

	2015			2014
Stock-based compensation	$	6,077,629		$	5,433,419
Accrued compensation	4,724,670			2,964,688
Unrealized gains	(722,466		)	(2,436,006		)
Property and equipment	(815,825		)	(369,248		)
Other assets and liabilities	(57,929		)	66,139
Net deferred tax assets	$	9,206,079		$	5,658,992