Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes for the years ended December 31, 2021, 2020, and 2019 consisted of the following (in millions):


	Year Ended December 31,
	2021		2020		2019
Current tax provision
Federal	$	10.2	$	1.9	$	—
State	4.9		1.3		0.5
Foreign	5.5		3.3		0.2
	20.6		6.5		0.7

Deferred tax provision
Federal	(10.2)		0.9		(5.0)
State	(5.5)		(2.7)		(2.2)
Foreign	1.2		—		—
	(14.5)		(1.8)		(7.2)

Income tax expense (benefit)	$	6.1	$	4.7	$	(6.5)

Schedule of Effective Income Tax Rate Reconciliation

For the years ended December 31, 2021, 2020, and 2019, the effective income tax rate differs from the U.S. federal statutory income tax rate as explained below:


	Year Ended December 31,
	2021		2020		2019
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal benefit	4.7	%	(4.2)	%	1.6	%
Foreign taxes	6.2	%	(10.5)	%	—	%
Income allocable to NCI not subject to tax	(7.5)	%	(0.2)	%	(14.8)	%
Stock compensation	2.4	%	(42.1)	%	—	%
Impact of GAAP basis shifts	86.7	%	(9.1)	%	—	%
R&D credit	(2.5)	%	3.2	%	—	%
Other	(0.7)	%	(0.3)	%	0.5	%
Valuation allowance	0.2	%	27.4	%	(0.6)	%
Return to provision adjustment	(3.2)	%	—	%	—	%
Liquidation of corporate subsidiary	1.3	%	—	%	—	%
Impact of change in tax status	(103.7)	%	—	%	—	%
Dividend from corporate subsidiary	1.2	%	—	%	—	%
Effective income tax rate	6.1	%	(14.8)	%	7.7	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2021 and 2020, the components of deferred tax assets and liabilities are as follows (in millions):


	Year Ended December 31,
	2021		2020
Deferred tax assets
Intangibles	$	3,999.7	$	—
Interest expense carryforward	15.3		9.7
Investment in ZoomInfo Holdings LLC	—		649.6
Net operating loss carryforwards	96.7		5.9
Stock-based compensation	5.1		—
Credit carryforwards	1.8		3.1
Other	11.0		—
Total deferred tax assets	$	4,129.6	$	668.3

Deferred tax liabilities
Foreign withholding	$	1.5	$	—
Other DTL	13.6		—
Investment in ZoomInfo Tech LLC	—		22.6
Total deferred tax liabilities	$	15.1	$	22.6

Less valuation allowance	$	—	$	(238.3)
Net deferred tax asset (liability)	$	4,114.5	$	407.4