Income Tax |
9 Months Ended |
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Sep. 30, 2018 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax |
Income Tax
We recorded a tax expense of approximately $0.9 million and $1.1 million for the three and nine months ended September 30, 2018, respectively, compared to $0.0 million and $0.1 million for the three months and nine months ended September 30, 2017. For the three and nine months ended September 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. As of December 31, 2017 we made provisional estimates for the impact of the TCJA on our income tax accounting. We completed our assessment in the third quarter of 2018 and concluded the provisional estimates made as of December 31, 2017 are appropriate and we did not record any measurement period adjustments.
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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://www.xbrl.org/2003/role/presentationRef
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