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Note 13 - Income Taxes

3 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

13)	Income Taxes

The Company's effective tax rate from continuing operations for the first quarter of the fiscal year ending June 30, 2021 was 20.7% compared with 27.8% for the prior year quarter. The tax rate was impacted in current period by the following items: (i) minimization of global intangible low-taxed income and enhancement of the deduction for foreign derived intangible income, (ii) foreign tax credit optimization strategies, (iii) a benefit due to the carryback of losses generated in the fiscal year ending June 30, 2019 and (iv) the jurisdictional mix of earnings.

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.

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