|
Income Taxes
|
3 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2014
|
|||
| Income Taxes [Abstract] | |||
| Income Taxes |
The Company uses an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates, to determine its quarterly provision for income taxes.
We had tax expense of $30,000 for continuing operations for the three months ended March 31, 2014, as compared to a tax benefit of $1,429,000 for the corresponding period of 2013. The Company’s effective tax rate was approximately (0.8%) for the three months ended March 31, 2014 as compared to a tax rate of approximately 33.1% for the corresponding period of 2013. The lower tax rate for the first quarter of 2014 was primarily the result of the Company continuing to record a full valuation allowance on its net deferred tax assets.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|