Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v2.4.0.8
INCOME TAXES (Tables)
6 Months Ended
Jun. 30, 2014
INCOME TAXES [Abstract]  
Income tax expense provision
The income tax provision (benefit) for the three and six months ended June 30, 2014 and 2013 consists of the following:

   
Three Months Ended
June 30,
   
Six Months Ended
June 30,
 
   
2014
   
2013
   
2014
   
2013
 
Current Income Taxes
  $ -     $ -     $ -     $ 4,614  
Deferred Income Taxes
                               
         Federal
    (2,506,000 )     13,874,000       1,235,000       18,969,000  
         State
    (244,000 )     756,000       115,000       1,261,000  
Total Provision (Benefit)
  $ (2,750,000 )   $ 14,630,000     $ 1,350,000     $ 20,234,614