INCOME TAXES

3 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 17 – INCOME TAXES

The income tax provision effective tax rates were 37.0% and 0.0% for the three months ended June 30, 2022 and 2021, respectively. During the three months ended June 30, 2022 and 2021, the effective tax rate differed from the U.S. federal statutory rate primarily due to state income taxes for the three months ended June 30, 2022 and the change in the valuation allowance for the three months ended June 30, 2021. The effective tax rates increased during the three months ended June 30, 2022 compared to the prior year period due to an increase in income from operations.

The Company has never had an Internal Revenue Service audit; therefore, the tax periods ended December 31, 2016, December 31, 2017, and March 31, 2018, 2019, 2020, 2021, and 2022 are subject to audit.