Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Income Taxes

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Note 11 - Income Taxes
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
11
.
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.
 
The Company had income tax expenses of
$66,000
and
$147,000
for continuing operations for the
three
and
six
months ended
June 30, 2017,
respectively, and income tax benefits of
$3,167,000
and
$3,130,000
for continuing operations for the
three
and
six
months ended
June 30, 2016,
respectively. The Company’s effective tax rates were approximately
5.7%
and
8.4%
for the
three
and
six
months ended
June 30, 2017,
respectively, and (
28.0%
) and (
20.7%
) for the
three
and
six
months ended
June 30, 2016,
respectively. 
The Company’s income tax benefits for the
three
and
six
months ended
June 30, 2016
was primarily the result of a tax benefit recorded in the amount of
$3,203,000
resulting from the permit impairment loss recorded for the Company’s M&EC subsidiary.