Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

13. 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.

 

Income tax expenses were $39,000 and $51,000 for continuing operations for the three months ended March 31, 2019 and the corresponding period of 2018, respectively. The Company’s effective tax rate was approximately 7.6% and 16.8% for the three months ended March 31, 2019 and the corresponding period of 2018, respectively. The Company’s tax rate for each of the periods discussed above was impacted by the Company’s full valuation on its net deferred tax assets.