text: The Company provided for income taxes of $5.3 million in 2003, which is an effective tax rate of 35.2% due to the 
  effect of state tax apportionment rules and reduction in the liability for tax exposures. On a normalized basis the 
  Company would have recorded taxes at an effective tax rate of approximately 39%. Last year’s effective tax rate was 
  42.2% due to the impact of net operating loss carry forwards generated in several states with higher tax rates. The 
  Company currently operates in four states. Due to apportionment rules and geographic operations of subsidiaries 
  where the Company’s profits and losses arise, the Company is generating profits in states with lower tax rates, while 
  generating losses in states with higher tax rates. The Company cautions readers that the current effective tax rate may 
  not be the same rate at which tax benefits or tax expenses are recorded in the future. The Company’s state 
  apportionments, profits and losses and state tax rates may change, therefore changing the effective rate at which taxes 
  are provided for or at which tax benefits accrue. In the near term, under existing operating results and current tax rates, 
  the Company anticipates a normalized effective tax rate will be approximately 39%. 