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Income Taxes
 9 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes

12.

Income Taxes

The Company’s effective tax rate (ETR) from continuing operations was 30.7% and 28.3% for the three months and nine months ended June 30, 2020, respectively, and 22.2% and 23.6% for the three months and nine months ended June 30, 2019, respectively. The Company's ETR during the three months and nine months ended June 30, 2020 was different from the prior year tax rates as a result of differences in the book and tax value of the vesting and exercise of stock compensation, state taxes, and changes in valuation allowance against state net operating losses, as well as differences between the book and tax deductions associated with meals, entertainment, employer provided parking, and compensation of officers.  The non-deductible amounts related to these items increased slightly from the prior year to the current year.

 

The Company's ETR during the nine months ended June 30, 2019 was different than the statutory rate as a result of state taxes, the vesting and exercises of stock compensation, differences in the GAAP and tax deductibility of meals and parking benefits, and changes in the valuation allowance against state net operating losses.

 

As of September 30, 2019, the Company had aggregate federal and state net operating loss carryovers of approximately $478.3 million and $228.3 million, respectively, which expire in fiscal years 2027-2037 and 2020-2039, respectively.  Approximately $2.7 million of state net operating loss carryforwards are expected to expire in the current fiscal year.