|
Income Taxes (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Income Tax Expense |
Income tax (expense) benefit consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
2014 |
|
2013 |
|
2012 |
Current taxes: |
|
|
|
|
|
Federal |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
State |
(7,743 |
) |
|
(5,359 |
) |
|
(1,319 |
) |
Foreign |
(2,341 |
) |
|
5,269 |
|
|
(2,265 |
) |
Total current taxes |
(10,084 |
) |
|
(90 |
) |
|
(3,584 |
) |
Deferred taxes: |
|
|
|
|
|
Federal |
(302,350 |
) |
|
(211,044 |
) |
|
2,729,823 |
|
State |
(25,111 |
) |
|
(48,743 |
) |
|
271,995 |
|
Total deferred taxes |
(327,461 |
) |
|
(259,787 |
) |
|
3,001,818 |
|
Total income tax (expense) benefit |
$ |
(337,545 |
) |
|
$ |
(259,877 |
) |
|
$ |
2,998,234 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
The following table indicates the significant elements contributing to the difference between the federal tax (expense) benefit at the statutory rate and at our effective rate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
2014 |
|
2013 |
|
2012 |
Federal tax expense, at statutory rate |
$ |
(290,775 |
) |
|
$ |
(222,982 |
) |
|
$ |
(166,064 |
) |
State income tax expense, net of federal benefit |
(32,067 |
) |
|
(19,031 |
) |
|
(16,606 |
) |
State income rate changes |
5,334 |
|
|
(8,666 |
) |
|
(2,251 |
) |
Non-deductible expenses |
(13,914 |
) |
|
(9,545 |
) |
|
(477 |
) |
Change in valuation allowance |
2,836 |
|
|
4,228 |
|
|
3,195,651 |
|
Other, net |
(8,959 |
) |
|
(3,881 |
) |
|
(12,019 |
) |
Income tax (expense) benefit |
$ |
(337,545 |
) |
|
$ |
(259,877 |
) |
|
$ |
2,998,234 |
|
|
| Schedule of Deferred Tax Assets and Liabilities |
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
2014 |
|
2013 |
Deferred tax assets: |
|
|
|
Net operating loss carryforwards |
$ |
1,818,719 |
|
|
$ |
2,207,583 |
|
GM payments and liabilities |
539 |
|
|
1,984 |
|
Deferred revenue |
691,323 |
|
|
606,430 |
|
Severance accrual |
271 |
|
|
388 |
|
Accrued bonus |
28,170 |
|
|
25,830 |
|
Expensed costs capitalized for tax |
19,624 |
|
|
22,679 |
|
Deferred financing costs |
958 |
|
|
664 |
|
Investments |
46,751 |
|
|
45,078 |
|
Stock based compensation |
79,296 |
|
|
71,794 |
|
Other |
36,597 |
|
|
31,735 |
|
Total deferred tax assets |
2,722,248 |
|
|
3,014,165 |
|
Deferred tax liabilities: |
|
|
|
Depreciation of property and equipment |
(237,971 |
) |
|
(188,675 |
) |
FCC license |
(789,857 |
) |
|
(778,152 |
) |
Other intangible assets |
(213,086 |
) |
|
(233,983 |
) |
Total deferred tax liabilities |
(1,240,914 |
) |
|
(1,200,810 |
) |
Net deferred tax assets before valuation allowance |
1,481,334 |
|
|
1,813,355 |
|
Valuation allowance |
(4,995 |
) |
|
(7,831 |
) |
Total net deferred tax asset |
$ |
1,476,339 |
|
|
$ |
1,805,524 |
|
|
| Summary of Income Tax Contingencies |
Changes in our uncertain income tax positions, from January 1 through December 31 are presented below:
|
|
|
|
|
|
|
|
|
|
2014 |
|
2013 |
Balance, beginning of year |
$ |
1,432 |
|
|
$ |
1,432 |
|
Additions for tax positions from prior years |
— |
|
|
— |
|
Balance, end of year |
$ |
1,432 |
|
|
$ |
1,432 |
|
|