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Income Taxes
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2015
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes The following table sets forth our income tax provisions and effective tax rates for the three months ended March 31, 2015 and 2014 (dollars in thousands):
The effective tax rates differ from the statutory U.S. federal income tax rate of 35.0% due primarily to state income taxes. Our accounting policy is to include interest and penalties related to income tax liabilities in income tax expense. As of March 31, 2015, we did not have any estimated interest and penalties related to uncertain tax positions. The tax years 2009 to 2013 remain open to examination by the major taxing jurisdictions to which we are subject. The statute of limitations for tax years 1999 to 2008 has expired, except that the tax year 1999 is subject to adjustment of net operating losses by the Internal Revenue Service. We are subject to taxation in the United States and various state jurisdictions. We are currently subject to one state tax examination for the tax year of 2009. The outcome of the examination cannot be predicted with certainty; however, we believe that the ultimate resolution will not have a material effect on our consolidated financial position, results of operations, or cash flows. We make our best estimate of the tax rate expected to be applicable for the full fiscal year. The rate so determined is used to compute our income tax expense for an interim period. |
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