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Income tax provision
 3 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income tax provision
The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate as follows:
Quarter Ended
March 31, 2023		Year Ended
December 31, 2022
Income tax at federal statutory rate21.0 %21.0 %
Change in valuation allowance149.5 %7.2 %
Tax impact of share-based compensation22.3 %3.2 %
Acquisition-related items9.0 %0.1 %
Payables and receivables for prior year tax returns4.0 %(0.3 %)
Tax on repatriation of foreign earnings2.7 %2.2 %
Foreign tax rate differences2.5 %1.9 %
Non-deductible executive compensation2.2 %2.2 %
State income tax expense, net of federal income tax benefit1.1 %2.7 %
Sale of business/basis difference in assets held for sale(149.5 %)(15.8 %)
Change in unrecognized tax benefits, including interest and penalties(5.8 %)0.2 %
Return to provision adjustments— (1.9 %)
Research and development tax credit(1.6 %)(1.2 %)
Other0.1 %0.8 %
Effective tax rate57.5 %22.3 %

As of March 31, 2023, we classified the assets and liabilities of our North American web hosting and logo design businesses as held for sale in the consolidated balance sheet. As such, we recognized a deferred tax asset for the difference between the book and tax basis of our investment in these businesses, and we recorded a full valuation allowance against the deferred tax asset, as we do not expect to realize the related tax benefit.

During the year ended December 31, 2022, we recognized a capital loss for tax purposes related to the sale of our Australian web hosting business, and we recorded a valuation allowance for the portion of the capital loss carryover we did not expect to realize.