INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Provision for Income Taxes |
The components of the provision consist of the following for the years ended December 31, 2019 and 2018:
|
|
|
2019
|
|
|
2018
|
|
|
Current:
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
55,269
|
|
|
$
|
258,617
|
|
|
State
|
|
|
19,550
|
|
|
|
42,015
|
|
|
Total current
|
|
|
74,819
|
|
|
|
300,632
|
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
(67,299
|
)
|
|
|
(89,983
|
)
|
|
State
|
|
|
2,498
|
|
|
|
(13,851
|
)
|
|
Total deferred
|
|
|
(64,801
|
)
|
|
|
(103,834
|
)
|
|
Provision for income taxes
|
|
$
|
10,018
|
|
|
$
|
196,798
|
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
The income tax provision differs from that computed at the federal statutory corporate income tax rate as follows for the years ended December 31, 2019 and 2018:
|
|
|
2019
|
|
|
2018
|
|
|
Tax provision computed at the federal statutory rate
|
|
$
|
620,210
|
|
|
$
|
297,082
|
|
|
State income tax, net of federal benefit
|
|
|
18,823
|
|
|
|
24,981
|
|
|
Permanent items
|
|
|
(287,480
|
)
|
|
|
34,084
|
|
|
Credits
|
|
|
(168,299
|
)
|
|
|
(103,572
|
)
|
|
True ups and rounding
|
|
|
(149,935
|
)
|
|
|
4,624
|
|
|
Change in federal statutory rate, net of benefit
|
|
|
5,823
|
|
|
|
(45,037
|
)
|
|
Uncertain tax positions
|
|
|
(29,124
|
)
|
|
|
(15,364
|
)
|
|
Provision for income taxes
|
|
$
|
10,018
|
|
|
$
|
196,798
|
|
|
| Schedule of Deferred Tax Assets |
The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following at December 31, 2019 and 2018:
|
|
|
2019
|
|
|
2018
|
|
|
Deferred Tax Assets:
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
$
|
158,426
|
|
|
$
|
143,332
|
|
|
Accruals and reserves
|
|
|
68,501
|
|
|
|
53,802
|
|
|
Other
|
|
|
414,476
|
|
|
|
307,687
|
|
|
Total deferred tax assets
|
|
|
641,403
|
|
|
|
504,821
|
|
|
Deferred Tax Liabilities:
|
|
|
|
|
|
|
|
|
|
Basis difference in fixed assets
|
|
|
(76,929
|
)
|
|
|
(128,723
|
)
|
|
Other
|
|
|
(165,191
|
)
|
|
|
(41,616
|
)
|
|
Total deferred tax liabilities
|
|
|
(242,120
|
)
|
|
|
(170,339
|
)
|
|
Net deferred tax assets
|
|
$
|
399,283
|
|
|
$
|
334,482
|
|
|
| Schedule of Gross Unrecognized Tax Benefits |
The aggregate changes in the balance of gross unrecognized tax benefits (included as part of accrued expenses in the accompanying financial statements), which excludes interest and penalties, are as follows as of and for the years ended December 31, 2019 and 2018:
|
|
|
2019
|
|
|
2018
|
|
|
Beginning balance:
|
|
$
|
29,124
|
|
|
$
|
44,488
|
|
|
Increases related to tax positions taken during the current year
|
|
|
4,565
|
|
|
|
19,765
|
|
|
Decreases related to expiration of statute of limitations
|
|
|
—
|
|
|
|
(35,129
|
)
|
|
Other adjustments
|
|
|
(33,689
|
)
|
|
|
—
|
|
|
Ending balance:
|
|
$
|
—
|
|
|
$
|
29,124
|
|
|