Note 17 - Income Tax

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Text Block]

17.

Income Tax

Income tax expense was approximately

$0.1

million and

$0.6

million for the

three

months ended

March 31, 2020

and

2019,

respectively. The effective tax rate was (

1.2

) % for the

three

months ended

March 31, 2020

compared with (

32.1

) % for the same period in

2019.

The difference between the Company’s effective tax rates in

2020

and

2019

compared to the U.S. statutory tax rate of

21%

is primarily due to the mix of

2020

forecasted income or losses in the U.S. and foreign tax jurisdictions, the impact of different tax rates in certain foreign jurisdictions and the impact of the inclusion of foreign income in U.S. taxable income under the GILTI (Global Intangible Low-Taxed Income) tax rules. Changes made by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to the limitation on interest expense deductions, including a retroactive change to the calendar year

2019

deduction, also impacted the

2020

effective tax rate.

- 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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