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INCOME TAXES

3 Months Ended

Mar. 31, 2021

8.	INCOME TAXES

The provision for income taxes for the three months ended March 31, 2021 and 2020 was $1.2 million, or 21.7% of pretax income, and approximately $0.1 million, or 2.9% of pretax loss, respectively. The increase quarter over quarter was due to the reversal of a full valuation allowance at December 31, 2020, resulting in an effective tax rate of 21.7% in the current quarter.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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