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INCOME TAXES
 9 Months Ended
Sep. 30, 2018
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES

As previously disclosed, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law in December 2017.  The Tax Act, among other changes, reduced the statutory federal corporate income tax rate from 35.0% to 21.0%. The Company received the benefit of the reduced statutory federal corporate income tax rate starting January 1, 2018, which is partially offset by changes in certain deductions (most notably the elimination of the domestic production activities deduction). The Company has completed the assessment of the impact of the new tax legislation and no significant measurement period adjustments were recorded during the nine months ended September 30, 2018.
The following table reconciles the statutory federal tax rate and the Company's effective tax rate for the periods indicated:

 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2018
 
2017
 
2018
 
2017
Statutory federal income tax rate
 
21.0
 %
 
35.0
 %
 
21.0
 %
 
35.0
 %
Tax deficit (benefit) from restricted stock vestings
 
—
 %
 
(0.1
)%
 
0.4
 %
 
(0.8
)%
Domestic production activities deductions
 
—
 %
 
(2.6
)%
 
—
 %
 
(2.7
)%
Federal and state tax credits
 
(4.5
)%
 
(3.8
)%
 
(2.5
)%
 
(2.1
)%
State income taxes
 
3.2
 %
 
1.6
 %
 
2.6
 %
 
1.7
 %
Uncertain tax positions
 
(2.1
)%
 
(0.2
)%
 
0.4
 %
 
1.4
 %
Nondeductible and other expenses
 
1.3
 %
 
0.3
 %
 
0.9
 %
 
0.6
 %
Effective federal and state income tax rate
 
18.9
 %
 
30.2
 %
 
22.8
 %
 
33.1
 %


The Company's effective tax rate for the three and nine months ended September 30, 2018 reflects the release of reserves for the Company's liability for unrecognized income tax benefits due to the expiration of the statute of limitations for certain tax years and, to a lesser extent, an increase in the previously estimated research and development tax credit for the 2017 and 2018 tax years upon the filing of the Company’s 2017 federal tax return during the current quarter.

The Company's effective tax rate for the three months ended September 30, 2017 reflects an increase in the previously estimated research and development tax credit for the 2016 and 2017 tax years upon the filing of the Company's 2016 federal tax return during the prior year quarter. For the nine months ended September 30, 2017, the Company's effective tax rate was also favorably impacted by benefits related to excess tax deductions for the vesting of restricted stock awards, which the Company began recognizing in the provision for income taxes in the first quarter of 2017 upon the adoption of ASU 2016-09.