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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Summary of Reconciles Statutory Federal Income Tax Rate to Company's Effective Tax Rate

The provision for income taxes differed from the statutory rate as follows:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2023						2022						2023						2022
Federal statutory tax rate						21.0		%				21.0		%				21.0		%				21.0		%
Increases (decrease) resulting from:
State income tax, net of federal tax benefit						9.5		%				1.5		%				1.5		%				0.5		%
Disallowed compensation						(6.5)		%				(0.1)		%				2.8		%				(1.8)		%
Effect of rate change						—		%				—		%				—		%				1.4		%
Nondeductible expenses						(0.1)		%				—		%				0.3		%				(0.1)		%
Dividend received deduction						1.2		%				0.1		%				(0.5)		%				0.3		%
Other, net						(0.2)		%				—		%				(0.1)		%				(0.1)		%
Effective tax rate						24.9		%				22.5		%				25.0		%				21.2		%

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- References

No definition available.

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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