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Income Taxes
9 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesIn determining the quarterly provision for income taxes we use an estimated annual effective tax rate which is based on expected annual income, statutory tax rates, and available tax planning opportunities in the various jurisdictions in which we operate. Unusual or infrequently occurring items are separately recognized in the quarter in which they occur. Our effective tax rates for the three and nine months ended March 31, 2023 were negative tax rates of (32.3%) and (42.3%), respectively, which were lower than the 25.7% combined federal and state statutory tax rate primarily due to the book versus tax treatment of nondeductible goodwill impairment (67.1% negative year-to-date impact), earn-out valuation adjustments (5.9% positive year-to-date impact), and non-deductible merger costs (7.0% negative year-to-date impact). Our effective tax rates for the three and nine months ended March 31, 2022 were negative tax rates of (9.3%) and (3.3%), respectively, which were also lower than the 25.7% combined federal and state statutory tax rate primarily due to the book versus tax treatment of nondeductible goodwill impairment (61.3% negative year-to-date impact) and earn-out valuation adjustments (28.3% positive year-to-date impact).