Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Taxes  
Income Taxes

12.Income Taxes

 

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.    The Company’s effective tax rate was 36.1% and 37.5% for the three months ended June 30, 2016 and 2015, respectively.  The Company’s effective tax rate was 36.7% and 37.4% for the six months ended June 30, 2016 and 2015, respectively.  The effective tax rate for the three and six months ended June 30, 2016 is lower than the corresponding period in 2015 due to changes in deferred state income tax rates.