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)

6 Months Ended

Jun. 30, 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 six months ended June 30, 2014 and 2013 is provided in the following table:


	Six Months Ended June 30, 2014			Six Months Ended June 30, 2013
U.S. statutory federal income tax rate		0.0	%		34.0	%
State taxes, net of U.S. federal income tax benefit		0.0	%		23.4	%
Other adjustments⁽¹⁾		-5.0	%		0.3	%

Effective tax rate		-5.0	%		57.7	%

⁽¹⁾

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