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13) Income Taxes
6 Months Ended
Jun. 30, 2020
Disclosure Text Block [Abstract]  
13) Income Taxes

13) Income Taxes

 

The Company’s overall effective tax rate for the three months ended June 30, 2020 and 2019 was 24.4% and 24.7%, respectively, which resulted in a provision for income taxes of $6,636,709 and $1,143,789, respectively. The Company’s overall effective tax rate for the six months ended June 30, 2020 and 2019 was 23.3% and 23.3%, respectively, which resulted in a provision for income taxes of $6,686,494 and $1,645,630, respectively. The Company's effective tax rates differ from the U.S. federal statutory rate of 21% partially due to its provision for state income taxes.  The effective tax rate in the current period decreased when compared to the prior year period partly due to the Company’s provision for state income taxes.