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Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Taxes  
Income Taxes

(11) Income Taxes

The Company’s effective tax rate for the nine months ended September 30, 2025 was 23.5%. The Company’s effective tax rate for the nine months ended September 30, 2025 varied from the federal statutory rate of 21.0% primarily due to the provision for state income taxes and the impact of non-deductible expense, partially offset by a discrete tax benefit from additional tax deductions generated from employee equity awards that vested during the nine months ended September 30, 2025.

The Company’s effective tax rate for the nine months ended September 30, 2024 was 24.4%. The Company’s effective tax rate for the nine months ended September 30, 2024 varied from the federal statutory rate of 21.0% primarily due to the provision for state income taxes and the impact of non-deductible expenses. This was partially offset by a discrete tax benefit from additional tax deductions generated from employee equity awards that vested during the nine months ended September 30, 2024, a discrete tax benefit from the release of a previously recorded uncertain tax position liability and a discrete tax benefit from a release of the valuation allowance on state net operating losses anticipated to be utilized prior to expiration.

On July 4, 2025, the One Big Beautiful Bill Act was signed into law. The legislation did not have a material impact on our income tax expense for the quarter ended September 30, 2025, and we do not expect it to materially change our effective income tax rate for the year ending December 31, 2025.