INCOME TAXES

6 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 15 – INCOME TAXES

The income tax provision effective tax rates were 19.8% and 18.5% for the three and six months ended September 30, 2023, respectively, and 35.0% and 46.0% for the three and six months ended September 30, 2022, respectively. During the three and six months ended September 30, 2023, the effective tax rate differed from the U.S. federal statutory rate primarily due to employee stock awards. For the three and six months ended September 30, 2022, the effective tax rate differed from the U.S. federal statutory rate due to state income taxes.

The Company has never had an Internal Revenue Service audit; therefore, the tax periods ended March 31, 2021, 2022 and 2023 are subject to audit.