Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v2.4.0.8
Income Taxes
 9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
We own a TRS that is subject to Federal and state income taxes.  Our TRS’s provision for income taxes consisted of the following (in thousands):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Deferred
 

 
 

 
 
 
 
Federal
$
(83
)
 
$
(20
)
 
$
(215
)
 
$
(50
)
State
(18
)
 
(4
)
 
(42
)
 
(11
)
Total income tax expense
$
(101
)
 
$
(24
)
 
$
(257
)
 
$
(61
)

 
Items in our TRS contributing to temporary differences that lead to deferred taxes include depreciation and amortization, share-based compensation, certain accrued compensation, compensation paid in the form of contributions to a deferred nonqualified compensation plan and net operating losses that are not deductible until future periods.
 
Our TRS’s combined Federal and state effective tax rate was 37.7% for the three and nine months ended September 30, 2014 and 36.7% for the three and nine months ended September 30, 2013.