TAXES

6 Months Ended

Sep. 30, 2024

TAXES.

TAXES

NOTE 5. TAXES

For the three months ended September 30, 2024, the Company’s effective tax rate was (703.7%), compared to (30.3%) for the three months ended September 30, 2023. For the six months ended September 30, 2024, the Company’s effective tax rate was 154.2%, compared to (29.8%) for the six months ended September 30, 2023. The Company’s negative effective tax rates for the three months ended September 30, 2024 and 2023 and the six months ended September 30, 2023 reflect a tax expense on a pretax book loss in those periods.

The Company’s effective tax rate for the three months ended September 30, 2024 and 2023 and the six months ended September 30, 2023 was lower than the Company’s statutory tax rate, and its effective tax rate for the six months ended September 30, 2024 was higher than the Company’s statutory tax rate, primarily due to taxes on foreign operations and valuation allowances recorded in certain jurisdictions against deferred tax assets that are not more likely than not to be realized.