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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
78
Note 11—Income Taxes (continued)
Certain limitations may be placed on net operating loss carryforwards as a result of changes in control as defined
in Section 382 of the Internal Revenue Code. In the event a change in control occurs, it will have the effect of limiting
the annual usage of the operating loss carryforwards.
As of December 31, 2013 and 2012, we had a liability of $3.7 million and $1.5 million, respectively, for unrecognized
tax benefits related to various federal and state income tax matters excluding interest, penalties and related tax benefits.
The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is as follows:
Year Ended December 31,
2013 2012 2011
(In thousands)
Beginning balance $1,481 $ — $ —
Increases related to positions taken during prior years 931 970 —
Increases related to positions taken during the current year 1,312 511 —
Ending balance $3,724 $1,481 $—
The total amount of unrecognized tax benefits that, if
recognized, would affect the effective tax rate $3,724 $1,481 $—
We recognized accrued interest and penalties related to unrecognized tax benefits for the years ended
December 31, 2013 and 2012, of approximately $338,000 and $0, respectively.