XML 32 R20.htm IDEA: XBRL DOCUMENT v3.24.3
INCOME TAXES
 9 Months Ended
Sep. 30, 2024
INCOME TAXES  
INCOME TAXES

14. INCOME TAXES

The provision for income tax expense for the three months ended September 30, 2024 and 2023 was $3,522 and $3,380 respectively, and for the nine months ended September 30, 2024 and 2023 was $10,502 and $9,885 respectively. The effective tax rate for the three months ended September 30, 2024 and 2023 was 18.2% and 17.4%, respectively, and for the nine months ended September 30, 2024 and 2023 was 18.2% and 17.3%, respectively. These rates differ from the federal statutory rate of 21% primarily due to a federal tax credit for the sale of energy efficient homes under the Internal

Revenue Code §45L, partially offset by state income taxes. The §45L tax credit was initially established under the Federal Energy Policy Act of 2005 and was extended through December 31, 2032 by the Inflation Reduction Act of 2022.

​