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Income Taxes
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

8. INCOME TAXES

 

The Company’s effective tax rate from continuing operations was a benefit of 18% and 69% in the three month periods ended March 31, 2019 and 2018, respectively. The 2019 tax rate was impacted by the vesting of restricted stock which provided an income tax deduction in excess of the compensation deduction for GAAP purposes.

As of March 31, 2019, the Company had a $7.3 million valuation allowance primarily relating to certain state net operating loss carryforwards that are not likely to be realized in future periods.