Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.3.0.814
Income Taxes
 9 Months Ended
Sep. 30, 2015
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,
 
2015
 
2014
 
2015
 
2014
Deferred
 

 
 

 
 
 
 
Federal
$
39

 
$
83

 
$
125

 
$
215

State
9

 
18

 
28

 
42

Total income tax expense
$
48

 
$
101

 
$
153

 
$
257


 
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, 2015 and 2014.