Income Taxes |
3 Months Ended |
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Mar. 31, 2020 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes During the three months ended March 31, 2020 and 2019, the Company recorded income tax benefit of $65,934 and $1,319, respectively. The Company’s effective tax rate differs from the federal statutory tax rate due to permanent differences, state taxes and changes in the valuation allowance. The Company’s negative effective tax rate for the three months ended March 31, 2020 is due to a projected tax expense on a projected loss for the year. The Company’s negative effective tax rate for the three months ended March 31, 2019 is due to changes in the valuation allowance and the impact of certain discrete item.The CARES Act was signed into law on March 27, 2020, which, may benefit the Company. The Company will continue to assess the income tax effect of the CARES Act and ongoing government guidance related to COVID-19 that may be issued. |
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- References No definition available.
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- Definition 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://fasb.org/us-gaap/role/ref/legacyRef
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