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Note 9 - Income Taxes
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

9. Income Taxes:

 

Our effective tax rate for the three months ended March 31, 2021 was 22.5% compared to the effective tax rate for the three months ended March 31, 2020 of 20.8%. The effective tax rate for the three months ended March 31, 2021 was higher than the effective tax rate for the three months ended  March 31, 2020 primarily due to reduced stock option exercises resulting in lower tax benefits from equity compensation in the current period versus the prior period. The impact of lower stock benefits was partially offset by non-recurring tax expense recorded in the prior period in connection with our disposition of the aerial imagery sourcing group resulting from differences in the book and tax basis of the assets and entities disposed. The difference between statutory tax rates and our effective tax rate is primarily due to tax benefits attributable to equity compensation, offset by additional state and local taxes.