Silvercrest Asset Management Group LLC Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Income Taxes (Tables)

v2.4.1.9

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

	Year Ended December 31,
	2014		2013		2012
Current Provision:
Federal	$	896	$	435	$	6
State and local		1,890		1,430		1,029
Total Current Provision		2,786		1,865		1,035
Deferred (Benefit) Provision:
Federal		2,200		176		(14	)
State and local		1,400		107		36
Total Deferred Provision (Benefit)		3,600		283		22
Total Provision for Income Taxes	$	6,386	$	2,148	$	1,057

Summary of Deferred Tax Assets and Liabilities

A summary of deferred tax assets and liabilities as follows:

	As of December 31,
	2014		2013
Deferred tax assets
Intangible assets	$	24,170	$	25,050
Other		37		851
Total deferred tax assets	$	24,207	$	25,901
Deferred tax liabilities
Intangible assets	$	202	$	218
Investment on underlying SLP partnership		1,170		—
Total deferred tax liabilities	$	1,372	$	218
Net deferred tax assets (liabilities)	$	22,835	$	25,683

Summary of Reconciles Provision for Income Taxes

The following table reconciles the provision for income taxes to the U.S. Federal statutory tax rate:

	Year Ended December 31,
	2014			2013			2012
Statutory U.S. federal income tax rate		35.00	%		35.00	%		35.00	%
Income passed through to Partners		(12.43	)%		(25.57	)%		(35.00	)%
State and local income taxes		15.60	%		6.92	%		5.26	%
Permanent items		(3.69	)%		0.00	%		0.00	%
Life insurance proceeds		0.00	%		(5.41	)%		0.00	%
Other		2.87	%		0.13	%		(0.17	)%
Effective income tax rate		37.35	%		11.07	%		5.09	%

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

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