|12 Months Ended|
Dec. 31, 2016
|Income Tax Disclosure [Abstract]|
Note 4. Income Taxes
The components of the provision for income taxes are as follows:
The following is a reconciliation of income tax expense calculated using the U.S. statutory federal income tax rate with our income tax expense for 2016, 2015 and 2014:
Deferred tax assets and liabilities, which are included in "Other assets" and "Deferred income taxes" on our Balance Sheets, consist of the following:
As of December 31, 2016, the Company had various state tax credit carryforwards of approximately $4.0 million that are scheduled to expire in one to fifteen years.
We are subject to U.S. federal income tax, as well as income tax of multiple state tax jurisdictions. We remain open to examination by the Internal Revenue Service for tax years 2013 through 2016. We remain open to examination by various state tax jurisdictions for tax years 2012 through 2016.
The Company's liability for unrecognized tax benefits was immaterial as of December 31, 2016 and 2015. Interest and penalties related to uncertain tax positions, which are immaterial, are recorded in our "Provision for income taxes" on our Statements of Operations. Changes in our liability for unrecognized tax benefits could affect our effective tax rate, if recognized, but we do not expect any material changes within the next twelve months.
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
Reference 1: http://www.xbrl.org/2003/role/presentationRef