INCOME TAXES	3 Months Ended
Mar. 31, 2021
INCOME TAXES
INCOME TAXES	9. INCOME TAXES The Company determines its periodic income tax provision based upon the current period income and the annual estimated tax rate for the Company adjusted for discrete items including tax credits and changes to prior year estimates. The estimated tax rate is adjusted, if necessary, as of the end of each successive interim period during the fiscal year to the Company’s current annual estimated tax rate. Income tax provision for the first quarter of 2021 reflects an effective tax rate of 19.3 percent, compared to an effective rate of 14.4 percent for the comparable period in the prior year. The increase in the effective rate is primarily due to higher pre-tax income for the three months ended March 31, 2021, together with lower beneficial permanent items as well as an unfavorable adjustment related to state tax liabilities, recorded as a discrete item. The effective rate in both periods includes the effect of beneficial discrete adjustments related to vesting of restricted stock and restricted stock dividends.

- 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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