Gladstone Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Reconciliation between U.S. Statutory Federal Income Tax Rate and Effective Income Tax Rate

A reconciliation between the U.S. statutory federal income tax rate and our effective income tax rate for the three months ended March 31, 2014 and 2013 is provided in the following table:


	Three Months Ended March 31, 2014			Three Months Ended March 31, 2013
U.S. statutory federal income tax rate		0.0	%		34.0	%
State taxes, net of U.S. federal income tax benefit		0.0	%		21.4	%
Other adjustments⁽¹⁾		24.0	%		0.1	%

Effective tax rate		24.0	%		55.5	%

⁽¹⁾

Adjustments made to the 2014 income tax provision relate to the remaining DISA owed to the state of California, as a result of the land transfers from prior years, mentioned above.