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INCOME TAXES | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
INCOME TAXES |
11. | INCOME TAXES
The Company and its subsidiaries are based in the U.S. and file federal and various state income tax returns. The components of the provision for income taxes were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Current tax expense | $ | 22,598 |  |  | $ | 15,952 |  |  | $ | 37,028 |  |  | $ | 22,039 |
Deferred tax expense | 4,764 |  |  | 2,000 |  |  | 5,414 |  |  | 3,517 |
Income tax expense | $ | 27,362 |  |  | $ | 17,952 |  |  | $ | 42,442 |  |  | $ | 25,556 |
Cash paid for income taxes | $ | 33,605 |  |  | $ | 13,820 |  |  | $ | 33,566 |  |  | $ | 13,820 |
The effective income tax rate for the three and six months ended June 30, 2025 was 25.7% and 25.9%, respectively. The rate varied from the statutory rate primarily as a result of non-deductible compensation, state income taxes and other permanent differences. The Company incurred a $206 and $502 tax benefit for the three and six months ended June 30, 2025, respectively, for increased tax deductions related to stock compensation. On July 4, 2025, the One Big Beautiful Bill Act was enacted into law, introducing changes to the U.S. tax code. The Company is currently evaluating the various provisions, but does not expect this to have a material impact on our effective tax rate. The Company's U.S. federal and state income tax returns for 2022 and later are open and subject to examination. Additionally, federal and state NOLs may be adjusted by the taxing authorities for the 2014 and later tax years. Uncertain Tax Positions (“UTP”)—The Company has a UTP liability of $6,733 and an additional liability related to the UTP for penalties of $1,346 and interest of $1,433 at June 30, 2025. We recognize interest and penalties related to the UTP as administrative expense. The UTP, including penalties and interest, is fully offset by an indemnification receivable at June 30, 2025. The Company estimates that approximately $1,519 of the recorded UTP may be recognized by the end of 2025, with no material impact to the Condensed Consolidated Statement of Operations due to the associated indemnification receivable.

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