Income Taxes

3 Months Ended

Mar. 31, 2024

Income Taxes

Income Taxes

9. Income Taxes

The Company has estimated that its effective income tax rate for 2024 will be 20.7%. The primary reason for the effective income tax rate being below the federal statutory rate is due to statutory depletion, which is allowed for income tax purposes and is a permanent difference between net income for financial reporting purposes and taxable income.