XML 33 R23.htm IDEA: XBRL DOCUMENT

INCOME TAXES

3 Months Ended

Mar. 31, 2021

INCOME TAXES

NOTE 14: INCOME TAXES

Reconciliations of the Company’s effective tax rates to the statutory corporate tax rates were as follows:


		Three Months Ended March 31,
		2021		2020
Tax at statutory rate		21.0	%	21.0	%
Nontaxable interest and dividends		(0.3)		(0.5)
Tax credits		(1.9)		(3.5)
State taxes		1.3		(1.7)
Other		0.9		0.3
		21.0	%	15.6	%

The Company and its consolidated subsidiaries have not been audited recently by the Internal Revenue Service (IRS). As a result, federal tax years through December 31, 2016 are now closed.

The Company is currently under State of Missouri income and franchise tax examinations for its 2014 and 2015 tax years. The Company does not currently expect significant adjustments to its financial statements from these state examinations.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details