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Income Taxes

6 Months Ended

Jan. 30, 2021

The following table summarizes our effective tax rate from income for the periods presented:


	For the Three Months Ended						For the Six Months Ended
(in thousands)	January 30, 2021			February 1, 2020			January 30, 2021			February 1, 2020
Income (loss) before income taxes	$	(39,816)		$	9,947		$	(58,393)		$	10,926
Provision (benefit) for income taxes	(18,777)			(1,484)			(46,895)			(327)
Effective tax rate	47.2		%	(14.9)		%	80.3		%	(3.0)		%

We are primarily subject to income taxes in the United States. Our effective tax rate for the three and six months ended January 30, 2021, differs from the federal statutory income tax rate primarily due to the net operating loss carryback provisions of the CARES Act and excess tax benefits from stock-based compensation, partially offset by certain nondeductible expenses.

Our effective tax rate for the three and six months ended February 1, 2020, differed from the federal statutory income tax rate primarily due to certain nondeductible expenses and state taxes which are offset by the benefits of allowable credits and excess tax benefits from stock-based compensation.

We continue to monitor the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions.

- 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.

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