The Company’s income tax provision was $14.2 million for the three months ended June 30, 2019, and the income tax benefit was $41.6 million for the three months ended June 30, 2018. The Company’s effective tax rate was 13.8% and (85.8)% for the three months ended June 30, 2019 and 2018, respectively. The Company’s U.S. federal statutory corporate income tax rate of 21% was applied in the computation of the income tax provision for the three months ended June 30, 2019 and 2018.

The significant differences between the statutory income tax rate and effective income tax rate for the three months ended June 30, 2019 and 2018 were as follows:

	For the Three Months Ended June 30,
		2019			2018
Statutory income tax rate		21.0		%	21.0		%
(Decrease) increase resulting from:
Excess tax benefits from stock-based awards		(12.4	)		(111.0	)
Credits		(1.6	)		(1.8	)
State taxes, net		3.4			4.3
Permanent differences		1.9			1.6
Other		1.4			0.1
Effective tax rate		13.8		%	(85.8	)	%

The Company recognizes excess tax benefits and shortfalls in the income tax provision as discrete items in the period in which restricted stock units vest or stock option exercises occur. The Company recognized excess tax benefits associated with stock-based awards of $12.8 million and $53.8 million as an income tax benefit for the three months ended June 30, 2019 and 2018, respectively. These recognized excess tax benefits resulted from restricted stock units that vested or stock options that were exercised during each period. The amount of future excess tax benefits or shortfalls will likely fluctuate from period to period based on the price of the Company’s stock, the number of restricted stock units that vest or stock options that are exercised, and the fair value assigned to such stock-based awards under U.S. GAAP.

The Company and its subsidiaries are subject to U.S. federal income tax, as well as income tax of multiple state and foreign jurisdictions. During fiscal 2019, the Company closed an income tax audit in Germany, which covered fiscal years 2012 through 2015 and an Internal Revenue Service (“IRS”) audit in the U.S. during fiscal 2019 relating to its fiscal year 2016 tax return. These audits did not materially impact our financial statements. All other tax years remain subject to examination by the federal, state and foreign tax authorities.