Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v2.4.0.8
INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2013
INCOME TAXES [Abstract]  
Income tax expense provision
The income tax provision for the three and nine months ended September 30, 2013 and 2012 consists of the following:

 
 
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
 
 
2013
   
2012
   
2013
   
2012
 
Current Income Taxes
 
$
-
   
$
3,422
   
$
4,614
   
$
8,772
 
Deferred Income Taxes
                               
Federal
   
956,000
     
175,000
     
19,925,000
     
30,660,000
 
State
   
72,000
     
35,000
     
1,333,000
     
4,210,000
 
Total Provision
 
$
1,028,000
   
$
213,422
   
$
21,262,614
   
$
34,878,772