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Income Taxes
 6 Months Ended
Sep. 30, 2022
Income Taxes [Abstract]  
Income Taxes
12. Income Taxes

The Company recorded income tax benefit of $914,000, or an effective tax rate of 12.3%, and income tax expense of $2,251,000, or an effective tax rate of 37.9%, for the three months ended September 30, 2022 and 2021, respectively. The Company recorded income tax benefit of $325,000, or an effective tax rate of 4.6%, and income tax expense of $3,198,000, or an effective tax rate of 41.3%, for the six months ended September 30, 2022 and 2021, respectively. Effective tax rates are based on current annual projections and any changes in future periods could result in an effective tax rate that is materially different from the current estimate. The effective tax rate for the three months ended September 30, 2022, was primarily impacted by (i) specific jurisdictions that the Company does not expect to recognize the benefit of losses, (ii) foreign income taxed at rates that are different from the federal statutory rate, and (iii) non-deductible executive compensation under Internal Revenue Code Section 162(m).

The Company and its subsidiaries file income tax returns in the U.S. federal, various state, and foreign jurisdictions with varying statutes of limitations. At September 30, 2022, the Company is not under examination in any jurisdiction, and remain subject to examination from the years ended March 31, 2017. The Company believes no significant changes in the unrecognized tax benefits will occur within the next 12 months.