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Income Taxes | 3 Months Ended
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Mar. 31, 2014
Income Taxes [Abstract] |
Income Taxes | 10. INCOME TAXES A reconciliation of the U.S. federal statutory rate to our effective tax rate is as follows:
|  | For the Three Months Ended March 31,
|  | 2014 |  | 2013
U.S. federal statutory rate |  | 35.0 | % |  | 35.0 | %
State income taxes |  | 3.1 | % |  | 1.4 | %
Changes in reserve for uncertain tax positions as a result of settlements and lapsed statutes and related interest |  | (0.5) | % |  | (0.3) | %
Other |  | 0.2 | % |  | 0.2 | %
Effective tax rate |  | 37.8 | % |  | 36.3 | %
The differences between the U.S. federal statutory rate and our effective tax rate are primarily due to state income taxes and reserves for uncertain tax positions and related interest that are included in the provision for income taxes. The state income taxes for the three months ended March 31, 2014 reflect changes in state tax laws enacted during the quarter that will result in higher future tax liabilities for the Company in a jurisdiction with high Consumer Loan assignment volume. The impact of revaluing deferred taxes based upon the enacted law that will apply when the corresponding temporary differences are expected to be realized was recognized in the current quarter and resulted in an increase of 1.9% to the effective tax rate. The changes in state tax laws are effective beginning in 2015 and are not expected to have a significant impact to our effective tax rate. Our federal income tax return for 2011 is currently under audit by the Internal Revenue Service.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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