7.	Income Tax

The effective income tax rate for the Current Quarter and the Prior Year Quarter was approximately 73% and 68%, respectively, resulting in an income tax provision of $691,000 and $256,000, respectively.

The effective income tax rate for the Current Nine Months and the Prior Year Nine Months was approximately 96% and 15%, respectively, resulting in an income tax provision (benefit) of $1,704,000 and $(3,000), respectively.

In the Current Quarter and Current Nine Months, the effective tax rate was primarily attributable to recurring permanent differences. Based on the amount of income before income taxes compared to the recurring permanent differences, the effective rate increased by approximately 34% for the Current Quarter and by approximately 33% for the Current Nine Months. The effective tax rate was also impacted by the tax impact from the vesting of restricted shares of common stock. The excess tax deficiencies were treated as a discrete item for tax as required by ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. This item increased the effective rate by 5% for the Current Quarter and 30% for the Current Nine Months, respectively.

During the Prior Year Quarter and the Prior Year Nine Months, the respective effective tax rates were attributable to recurring permanent differences. Based on the amount of income/(loss) before income taxes compared to the permanent differences, the effective rate increased by 27% and decreased by 26% for the Prior Year Quarter and the Prior Year Nine Months, respectively.