Note 16 - Income Taxes |
6 Months Ended | ||
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Jun. 30, 2024 | |||
| Notes to Financial Statements | |||
| Income Tax Disclosure [Text Block] |
The Company’s effective tax rate was 24.2% and 22.0% for the three months ended June 30, 2024 and 2023, respectively. The Company’s effective tax rate was 27.9% and 23.1% for the six months ended June 30, 2024 and 2023, respectively. The effective tax rate for the three and six months ended June 30, 2024 was higher than the prior year periods due to the establishment of reserves for uncertain tax positions of $888, compared to the release of reserves for uncertain tax positions of $129 in the three and six months ended June 30, 2023. The effective tax rate for the six months ended June 30, 2024 was also impacted by discrete tax expense of $391 compared to expense of $148 in the six months ended June 30, 2023 related to excess tax from stock compensation.
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 tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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