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Income Taxes | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The Company is no longer subject to U.S. federal examinations for years before 2021 or state examinations for years before 2020. During the six months ended June 30, 2025 and 2024, the Company did not identify nor reserve for any unrecognized tax benefits. Our income tax benefit and overall effective tax rates for continuing operations for the periods presented are as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Income tax benefit | $ | (89) |  |  | $ | (372) |  |  | $ | (89) |  |  | $ | (1,393) |
Effective income tax rate | 2.1 | % |  | 20.4 | % |  | 2.0 | % |  | 22.0 | %
The effective tax rate for continuing operations was 2.1% and 2.0% for the three and six months ended June 30, 2025, respectively. The three and six months ended June 30, 2025 effective tax rate was lower than the U.S. statutory rate of 21.0% primarily due to the valuation allowance over federal and U.S. state deferred tax assets. The effective tax rate for continuing operation was 20.4% and 22.0% for the three and six months ended June 30, 2024, respectively. The three and six months ended June 30, 2024 effective tax rate was approximated than the U.S. statutory rate of 21.0% primarily due to the amount of state tax benefit relative to pretax losses.

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