Note 3 - Income Taxes

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

(3) INCOME TAXES

The effective tax rate for the three-month period ended June 30, 2020 decreased to 9.8% compared to 22.1% for the same period in 2019 and for the six-month period ended June 30, 2020 decreased to 2.3% compared to 19.4% for the same period in 2019 primarily from the exercise and vesting of shared-based compensation awards partially offset by higher state income taxes since we are filing in more states.

In March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act is an emergency economic stimulus package in response to the coronavirus outbreak which, among other things, contains numerous income tax provisions. As a result of the CARES Act, we have deferred $237,000 of employer social security tax payments into future years. We have had no other impacts to our consolidated financial statements or related disclosures from the CARES Act.