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INCOME TAXES
3 Months Ended
Mar. 30, 2024
INCOME TAXES  
INCOME TAXES

H.       INCOME TAXES

Effective tax rates differ from statutory federal income tax rates, primarily due to provisions for foreign, state and local income taxes and permanent tax differences. Our effective tax rate was 17.4% in the first quarter of 2024 compared to 23.7% in the same period of 2023. The decrease in our overall effective tax rate was primarily due to an increase in our tax deduction from stock-based compensation accounted for as a permanent difference.