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Income Taxes

3 Months Ended

Mar. 31, 2021

The following table presents our income tax provision and our income tax rate for the three months ended March 31, 2021 and 2020 (in thousands, except percentages):


	For the three months ended March 31,
	2021			2020
Income tax provision	$	31,604		$	28,584
Income tax rate	27.2		%	27.4		%

The difference between the U.S. statutory tax rate of 21% and our income tax rate for both the three months ended March 31, 2021 and 2020 was primarily a result of state and local income taxes and other permanent book to tax differences. The increase in the 2021 income tax provision was primarily due to increased income before income taxes.

As of March 31, 2021 and December 31, 2020, we had no unrecognized income tax benefits.

We file a consolidated federal income tax return including all of our U.S. subsidiaries with the Internal Revenue Service. We additionally file income tax returns with various state, local, and foreign tax agencies. Our income tax returns are subject to audit by various taxing authorities and are currently under examination for the years 2014 through 2019.

- 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.

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