XML 32 R21.htm IDEA: XBRL DOCUMENT v3.19.1
Note 13 - Income Taxes
 9 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
1
3
)     Income Taxes
 
The Company's effective tax rate from continuing operations for the
third
quarter of
2019
was
34.4%
compared with
23.8%
for the prior year quarter. The effective tax rate in
2019
was higher due to both an
$0.5
million discrete tax benefit related to the US tax reform recorded in the prior year quarter and
not
in the current year quarter as well as withholding taxes included in the annual effective tax rate for foreign repatriation in the current quarter that was
not
included in the rate in the prior year quarter.  
 
The Company's effective tax rate from continuing operations for the
nine
months ended
March 31, 2019
was
28.4%
compared with
57.7%
for the prior year. The effective tax rate for prior year to date was higher due to the impact of the Sec.
965
repatriation “toll” tax that was included in the prior year (recorded in
FY18
Q2
) and
not
recorded in the current year.
 
The Company increased its uncertain tax position during the quarter due to technical positions taken on the
FY18
tax return filed during the quarter concerning the impact of the mandatory repatriation. The expense related to this position was recorded in the prior year and resulted in a balance sheet reclass only.