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Income Taxes | 6 Months Ended
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Dec. 31, 2019
Income Taxes |
Income Taxes | (11) Income Taxes ​ The Company’s quarterly provision for income taxes is based on the annual effective rate method. The Company’s quarterly provision for income taxes also includes the tax impact of certain unusual or infrequently occurring items, if any, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, and other discrete items in the interim period in which they occur. ​ The Company’s effective tax rate was 22.6% and 14.6% for the three months ended December 31, 2018 and 2019, respectively. The Company’s effective tax rate for the three months ended December 30, 2018 was higher than the federal statutory rate of 21% primarily due to state income taxes and nondeductible expenses, partially offset by federal research and development credits. The Company’s effective tax rate for the three months ended December 30, 2019 was lower than the federal statutory rate of 21% primarily due to excess tax benefits from employee stock-based compensation. ​ The Company’s effective tax rate was (36.2)% and (50.5)% for the six months ended December 31, 2018 and December 31, 2019, respectively. The Company’s effective tax rates for the six months ended December 31, 2018 and December 31, 2019 were lower than the federal statutory rate of 21% primarily due to excess tax benefits from employee stock-based compensation.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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