Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Components of Income Tax Expense (Benefit)

The components of current and deferred federal and state income tax (benefit) expense for continuing operations for the years ended December 31, consisted of the following (in thousands):

	2018			2017
Federal income tax benefit - current	$	―		$	(780	)
Federal income tax benefit - deferred		(1,171	)		(778	)
State income tax expense - current		173			163
State income tax expense - deferred		62			110
Total income tax benefit	$	(936	)	$	(1,285	)

Schedule of Effective Income Tax Rate Reconciliation

An overall reconciliation between the expected tax benefit using the federal statutory rate of 21% and 34% for the years ended 2018 and 2017, respectively, and the benefit for income taxes from continuing operations as reported in the accompanying Consolidated Statement of Operations is provided below (in thousands).

	2018			2017
Tax benefit at statutory rate	$	(392	)	$	(1,640	)
State tax benefit, net of federal benefit		(178	)		(295	)
Change in deferred tax rates		(78	)		1,711
Impact of Tax Act		―			(1,695	)
Permanent items		(388	)		104
Difference in foreign rate		13			170
Change in deferred tax liabilities		114			881
Other		(99	)		(135	)
Decrease in valuation allowance		72			(386	)
Income tax benefit	$	(936	)	$	(1,285	)

Schedule of Deferred Tax Assets and Liabilities

The Company had temporary differences and net operating loss carry forwards from both our continuing and discontinued operations, which gave rise to deferred tax assets and liabilities at December 31, 2018 and 2017 as follows (in thousands):

	2018			2017
Deferred tax assets:
Net operating losses	$	9,540		$	5,992
Environmental and closure reserves		2,124			2,158
Depreciation and amortization		—			907
Other		1,263			1,252
Deferred tax liabilities:
Depreciation and amortization		(2,418	)		—
Goodwill and indefinite lived intangible assets		(586	)		(1,694	)
Prepaid expenses		(30	)		(50	)
		9,893			8,565
Valuation allowance		(10,479	)		(10,259	)
Net deferred income tax liabilities		(586	)		(1,694	)