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Income Taxes | 9 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes |
13. | Income Taxes
The Company’s effective tax rate for the three and nine months ended September 30, 2019 was 26.7% and 27.3%, respectively, compared to 28.5% and 27.2% for the three and nine months ended September 30, 2018, respectively. The Company provides for the effects of income taxes in interim financial statements based on the Company’s estimate of its annual effective tax rate for the full year, which is based on forecasted income by jurisdiction where the Company operates, adjusted for the tax effects of items that relate discretely to the period, if any. The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (dollars in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
Income tax expense at the federal statutory rate |  | $ | 5,526 |  |  |  | 21.0 | % |  | $ | 6,125 |  |  |  | 21.0 | % |  | $ | 16,247 |  |  |  | 21.0 | % |  | $ | 17,599 |  |  |  | 21.0 | %
State income tax expense, net of federal benefit |  |  | 1,118 |  |  |  | 4.2 | % |  |  | 1,462 |  |  |  | 5.0 | % |  |  | 3,359 |  |  |  | 4.3 | % |  |  | 3,974 |  |  |  | 4.7 | %
Windfall (shortfall) tax benefits, net related to stock-based compensation |  |  | 53 |  |  |  | 0.2 | % |  |  | (17 | ) |  |  | (0.1 | )% |  |  | (201 | ) |  |  | (0.2 | )% |  |  | (261 | ) |  |  | (0.3 | )%
Change in valuation allowance |  |  | 408 |  |  |  | 1.6 | % |  |  | 162 |  |  |  | 0.6 | % |  |  | 874 |  |  |  | 1.1 | % |  |  | 284 |  |  |  | 0.3 | %
Permanent and other items (1) |  |  | (81 | ) |  |  | (0.3 | )% |  |  | 583 |  |  |  | 2.0 | % |  |  | 880 |  |  |  | 1.1 | % |  |  | 1,176 |  |  |  | 1.5 | %
|  | $ | 7,024 |  |  |  | 26.7 | % |  | $ | 8,315 |  |  |  | 28.5 | % |  | $ | 21,159 |  |  |  | 27.3 | % |  | $ | 22,772 |  |  |  | 27.2 | %
(1) | Permanent items relate principally to compensation charges, qualified transportation fringe benefits, reversal of uncertain tax positions and meals and entertainment.

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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