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INCOME TAXES
 3 Months Ended
Mar. 31, 2025
INCOME TAXES  
INCOME TAXES

12. INCOME TAXES

The provision for income tax expense for the three months ended March 31, 2025 and 2024 was $2,452 and $3,373 respectively. The effective tax rate for the three months ended March 31, 2025 and 2024 was 19.3% and 18.2%, 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.