INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

Components of Provision for Income Taxes

For the years ended June 30, the components of the provision for income taxes are as follows:


	2021			2020			2019
Current income tax expense:
Federal	$	12,231		$	2,096		$	10,405
State		3,057			666			1,892
Benefit of current year tax credits		(469	)		(554	)		(171	)
Total current tax expense	$	14,819		$	2,208		$	12,126
Deferred tax expense (benefit):
Federal	$	1,471		$	(8,887	)	$	(5,837	)
State		(632	)		(886	)		(897	)
Total deferred tax expense (benefit)		839			(9,773	)		(6,734	)
Income tax expense (benefit)	$	15,658		$	(7,565	)	$	5,392

Schedule of Difference Between Statutory and Effective Federal Tax Rate

The difference between the statutory and the effective federal tax rate for the periods below is attributable to the following:

	2021			2020			2019
Statutory income tax rate		21.00	%		21.00	%		21.00	%
State taxes (net of federal income tax benefit and valuation allowance)		1.66	%		1.67	%		2.48	%
Tax credits		(0.98	%)		4.49	%		(3.39	%)
Change in valuation allowance		0.19	%		—			(0.57	%)
Permanent differences		(0.69	%)		(0.74	%)		(2.54	%)
Uncertain tax positions		0.67	%		(2.49	%)		3.10	%
Other		(0.05	%)		—			0.08	%
Effective income tax rate		21.80	%		23.93	%		20.16	%

Summary of Significant Components of Company's Deferred Tax Assets and Liabilities

As of June 30, 2021, and 2020, a summary of the significant components of the Company’s deferred tax assets and liabilities was as follows:

	2021			2020
Deferred tax assets:
Goodwill and other intangible asset basis difference	$	12,862		$	13,776
Warranty reserves		5,258			4,616
Accrued selling		368			850
Unrecognized tax benefits		665			566
Stock compensation		761			402
Repurchase agreements		111			261
State net operating loss		433			14
Accrued compensation		529			68
Other		805			630
Total deferred tax assets		21,792			21,183
Valuation allowance		(177	)		(65	)
Total deferred tax assets, net of the valuation allowance		21,615			21,118
Deferred tax liabilities:
Depreciation		(5,845	)		(4,839	)
Other		(640	)		(199	)
Total deferred tax liabilities		(6,485	)		(5,038	)
Net deferred tax assets	$	15,130		$	16,080

Schedule of Reconciliation of Unrecognized Tax Benefits Excluding Accrued Amounts for Interest and Penalties

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding accrued amounts for interest and penalties, is as follows:

	2021			2020
Balance at July 1	$	2,993		$	2,504
Additions based on tax positions related to the current year		1,113			110
Additions for tax positions of prior years		77			713
Reductions for tax positions of prior years		(412	)		(164	)
Settlements of tax positions from prior years		(467	)		(170	)
Balance at June 30	$	3,304		$	2,993