Income Taxes

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Note 10 - Income Taxes

The effective tax rate for the three and nine months ended September 30, 2015 was 50.9% and 50.8% respectively, compared to54.2% and 53.8%, respectively, for the three and nine months ended September 30, 2014.   The difference between the statutory and effective tax rate reflects certain operating expenses that are not fully deductible for federal income tax purposes.