Note 10 - Income Taxes
|3 Months Ended|
Mar. 31, 2021
|Notes to Financial Statements|
|Income Tax Disclosure [Text Block]||
During the three months ended March 31, 2021, the Company recorded a benefit from income taxes of $0.2 million. The income tax benefit relates principally to excess tax benefits on exercises of stock options and vesting of restricted stock during the quarter offset by the estimate of the Company’s annual state and local taxes and foreign operations in Canada. During the three months ended March 31, 2020, the Company recorded an expense provision for income taxes of less than $0.1 million.
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in response to the COVID-19 pandemic. The CARES Act among other things, allows employers to defer the deposit and payment of the employer's share of Social Security taxes. The Company, under the CARES Act, deferred paying $0.7 million of applicable gross payroll taxes, which is included in other liabilities as of March 31, 2021. The $0.7 million balance of the deferred Social Security taxes is expected to be paid in two equal annual installments during the years ending December 31, 2021 and 2022, respectively.
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/disclosureRef