Rendering

Component: (Network and Table)
Network
00000038 - Disclosure - Income Taxes (Tables)
(http://8x8.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001023731 (http://www.sec.gov/CIK)
Income Taxes TablesPeriod [Axis]
2015-04-01 - 2016-03-31
Income Taxes Tables
 
Components of tax provision

The components of the consolidated (benefit) provision for income taxes for fiscal 2016, 2015 and 2014 consisted of the following (in thousands):

      March 31,
Current:     2016     2015     2014
     Federal   $ 97    $ 92    $ - 
     State     551      457      276 
     Foreign     71      1      - 
          Total current tax provision     719      550      276 
                   
Deferred                  
     Federal   $ 95    $ 2,602    $ 1,578 
     State     (854)     (363)     365 
     Foreign     (807)     -      - 
          Total deferred tax (benefit) provision     (1,566)     2,239      1,943 
     Income tax (benefit) provision   $ (847)   $ 2,789    $ 2,219 

 

 

 

  
Schedule of tax effects of temporary differences that give rise to deferred tax assets and liabilities

Deferred tax assets were comprised of the following (in thousands):

      March 31,
Current deferred tax assets     2016     2015
     Net operating loss carryforwards   $ 2,739    $ 2,179 
     Inventory valuation     14      14 
     Reserves and allowances     2,740      2,394 
          Net current deferred tax assets     5,493      4,587 
             
Net operating loss carryforwards     38,449      44,228 
Research and development and other credit carryforwards     7,106      5,414 
Stock-based compensation     5,577      3,164 
Fixed assets and intangibles     (6,160)     (4,869)
          Net non-current deferred tax assets     44,972      47,937 
Valuation allowance     (3,760)     (4,901)
               Total   $ 46,705    $ 47,623 

 

 

 

  
Reconciliation of U.S. statutory income tax rate to company's effective tax rate

A reconciliation of the Company's provision for income taxes to the amounts computed using the statutory U.S. federal income tax rate of 34% is as follows (in thousands):

      Years Ended March 31,
      2016     2015     2014
Tax provision at statutory rate   $ (2,029)   $ 1,599    $ 1,285 
State income taxes before valuation allowance,                  
     net of federal effect     9      269      196 
Foreign tax rate differential     (769)     -      - 
Research and development credits     (1,253)     (725)     (1,534)
Change in valuation allowance     (1,555)     (1,480)     1,264 
Compensation/option differences     (471)     (331)     (264)
Non-deductible compensation     944      746      605 
Acquisition costs     230      -      230 
Expiring CA NOLs     1,626      1,484      240 
Foreign loss not benefited     2,342      1,192      271 
Other     79      35      (74)
          Total income tax provision   $ (847)   $ 2,789    $ 2,219 

 

 

 

  
Reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

      Unrecognized Tax Benefits
      2016     2015     2014
Balance at beginning of year   $ 2,420    $ 2,165    $ 3,024 
Gross increases - tax position in prior period     82      27      - 
Gross decreases - tax position in prior period     -      -      (1,081)
Gross increases - tax positions related to the current year     379      228      222 
Balance at end of year   $ 2,881    $ 2,420    $ 2,165