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INCOME TAXES
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s effective income tax rate is based on expected income, statutory rates, valuation allowances against deferred tax assets, and any tax planning opportunities available to the Company. For interim financial reporting, the Company estimates the annual effective income tax rate based on full year projections and applies the annual effective income tax rate against year-to-date pretax income to record income tax expense, adjusted for discrete items, if any. The Company refines annual estimates as new information becomes available. The Company’s tax rate does not bear a relationship to statutory tax rates due to permanent differences, which are primarily related to nondeductible compensation and state taxes.
The Company’s income tax expense consisted of the following:
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Income before provision for income taxes$74,934 $53,183 $123,068 $101,433 
Income tax expense using estimated annual effective income tax rate20,756 14,997 34,090 28,603 
Changes in effective tax rates— 97 — — 
Income tax expense$20,756 $15,094 $34,090 $28,603 

There were no discrete items for the three and six months ended June 30, 2024 and 2023, respectively.