Income Taxes |
6 Months Ended | ||||||||
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Jun. 30, 2020 | |||||||||
| Income Taxes | |||||||||
| Income Taxes |
The Company’s effective tax rate (benefit) was (14.4%) and 24.6% for the three months ended June 30, 2020 and 2019, respectively. The Company’s effective tax rate (benefit) was (15.4%) and 23.7% for the six months ended June 30, 2020 and 2019, respectively. The following items caused the effective tax rate for the three and six months ended June 30, 2020 to be significantly different from the Company’s historical annual effective tax rate:
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The largest item affecting deferred taxes is the difference between book and tax amortization of goodwill and other intangibles amortization. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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