|9 Months Ended|
Sep. 30, 2021
The Company’s effective tax rate was 14.6% and 26.0% for the three months ended September 30, 2021 and 2020, respectively. The Company’s effective tax rate was 8.2% and 14.3% for the nine months ended September 30, 2021 and 2020, respectively. The effective tax rate for the three and nine months ended September 30, 2021 was lower than the Company’s historical annual effective tax rate due to a discrete tax benefit of $774 and $3,513 related to favorable income tax audit results in states in which the Company files, respectively. The following items caused the effective tax rate for the nine months ended September 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.
No definition available.
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://www.xbrl.org/2003/role/disclosureRef