INCOME TAXES

9 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 16 – INCOME TAXES

The income tax provision effective tax rates were 22.1% and 19.1% for the three and nine months ended December 31, 2023, respectively, and 14.9% and 482.1% for the three and nine months ended December 31, 2022, respectively. During the three and nine months ended December 31, 2023, the effective tax rate differed from the U.S. federal statutory rate primarily due to employee stock awards. For the three and nine months ended December 31, 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.