Quarterly report pursuant to Section 13 or 15(d)

Income Tax

v3.10.0.1
Income Tax
6 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Income Tax
Income Tax
We recorded a tax expense of approximately $0.2 million for the three and six months ended June 30, 2018 and $0.1 million for the three months and six months ended June 30, 2017. For the three and six months ended June 30, 2018 and 2017, our income tax expense was determined using federal rates of 21% and 35%, respectively, and combined state rates, net of federal benefit, of 3% and 5%, respectively.
The Tax Cuts and Jobs Act ("TCJA"), signed into law on December 22, 2017, made significant changes to the U.S federal income tax laws applicable to businesses and their owners, including REITs and their stockholders. We have included a provision in our consolidated financial statements to estimate the impact of the TCJA, specifically including the impact of the change in rates on our deferred tax assets and liabilities. Additionally, the income and cash allocations received from our equity method investments in renewable energy projects are determined in part based on certain tax assumptions. As a result, certain of our partners’ allocations in these projects may be affected by the changes that may impact our income allocations determined under the HLBV method. Therefore, we consider allocations from these equity method investments to be provisional. We made no measurement period adjustments related to the impact of changes as a result of the TCJA during the three and six months ended June 30, 2018. We continue to evaluate the impact of the TCJA and will finalize our assessment in 2018.