Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Income Taxes
The Company files a consolidated federal income tax return and certain combined state and local income tax returns together with its subsidiaries. The tax rate for the 2015 periods is based on the estimated annual effective tax rate.
Income tax expense for the three and six months ended June 30, 2014 includes the tax effect of goodwill, which is amortized for income tax purposes, of $293 and $587. The remainder of the tax provision principally represents federal alternative minimum tax and state and local income taxes.
The effective tax rate differs from the federal statutory income tax rate for the 2015 periods primarily due to non-deductible expenses and state and local income taxes. The effective tax rate differs from the federal statutory income tax rate for the 2014 periods primarily due to a tax provision related to amortization of goodwill for tax purposes, state and local income taxes and utilization of net operating loss carryforwards for which valuation allowances had previously been provided.
|