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Note 14 - Income Taxes
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

Note 14 – Income Taxes

 

The Company's income tax provision as a percentage of our income before income taxes was 25.0% and 25.9% for the three months ended June 30, 2025 and 2024, respectively.

 

The Company's income tax provision as a percentage of our income before income taxes was 25.7% and 26.2% for the six months ended June 30, 2025 and 2024, respectively. 

 

Typically, these percentages vary from the U.S. federal statutory income tax rate of 21% primarily due to state income taxes, excess tax benefits from stock-based compensation, benefits resulting from the lapsing of statute of limitations of items in our tax contingency reserve, and non-deductible expenses. For the three months and six months ended June 30, 2025, the accrual of state income tax was the most significant reconciling item. For the three and six months ended June 30, 2024, the accrual of state income tax was the only significant reconciling items.

 

Our quarterly income tax provision, and our estimate of our annual effective income tax rate, is subject to variation due to several factors, including volatility based on the amount of pre-tax income or loss.  

 

The Company is no longer subject to U.S. federal and state examinations by tax authorities for years before 2021 (with certain state exceptions).