Interpace Biosciences®, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the difference between the federal statutory tax rates and the Company's effective tax rate from continuing operations is as follows:



	2013		2012
Federal statutory rate	35.0	%	35.0	%
State income tax rate, net of Federal tax benefit	0.3	%	2.5	%
Meals and entertainment	(2.3	)%	—	%
Valuation allowance	(35.9	)%	(38.1	)%
Other non-deductible	(1.3	)%	(0.4	)%
Other taxes	—	%	0.2	%
Net change in Federal and state reserves	—	%	—	%
Effective tax rate	(4.2	)%	(0.8	)%

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for or benefit from income taxes on continuing operations for the years ended December 31, 2013 and 2012 is comprised of the following:



	2013		2012
Current:
Federal	$	—	$	—
State	180		270
Total current	180		270
Deferred:
Federal	—		(53		)
State	—		(9		)
Total deferred	—		(62		)
Provision for income taxes	$	180	$	208

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of significant items comprising the Company’s deferred tax assets and (liabilities) as of December 31, 2013 and 2012 are as follows:



	2013			2012
Current deferred tax assets (liabilities)
included in other current assets:
Allowances and reserves	$	1,217		$	1,742
Compensation	4,010			3,382
Valuation allowance on deferred tax assets	(5,227		)	(5,124		)
	—			—
Noncurrent deferred tax assets (liabilities)
included in other long-term assets:
State net operating loss carryforwards	4,774			4,103
Federal net operating loss carryforwards	31,253			28,615
State taxes	1,124			1,123
Self insurance and other reserves	294			338
Property, plant and equipment	2,196			2,294
Intangible assets	8,269			9,249
Other reserves - restructuring	391			410
Compensation	—			31
Deferred revenue	6			226
Valuation allowance on deferred tax assets	(48,307		)	(46,389		)
	—			—
Net deferred tax liability	$	—		$	—

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table summarizes the change in uncertain tax benefit reserves for the two years ended December 31, 2013:



	Unrecognized
	Tax Benefits
Balance of unrecognized benefits as of January 1, 2011	$	1,117
Additions for tax positions related to the current year	—
Additions for tax positions of prior years	—
Reductions for tax positions of prior years	—
Balance as of December 31, 2012	$	1,117
Additions for tax positions related to the current year	—
Additions for tax positions of prior years	—
Reductions for tax positions of prior years	—
Balance as of December 31, 2013	$	1,117