Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Income Taxes
The Company’s interim income tax benefit or provision consists of U.S. federal and state income taxes based on the estimated annual effective rate that the Company expects for the full year. Each quarter the Company updates its estimate of the annual effective tax rate and records cumulative adjustments as necessary.
For the three months ended March 31, 2016, the Company recorded an income tax benefit of $8,769 on a pre-tax loss of $6,385. The effective tax rate differs from the federal statutory income tax rate of 35% for the 2016 period primarily due to non-deductible expenses, non-deductible stock based compensation and state and local income taxes.
For the three months ended March 31, 2015, the Company recorded an income tax benefit of $1,720 on pre-tax loss of $5,292. The effective tax rate differs from the federal statutory income tax rate for the 2015 period due to nondeductible expenses and state and local income taxes.
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