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INCOME TAXES
9 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXESThe Company’s effective tax rate for the three and nine months ended March 31, 2021 was 23.7% and 23.8%, respectively and for the three and nine months ended March 31, 2020 was 3.4% and 47.6%, respectively. During the three and nine months ended March 31, 2021, the effective tax rate is based on the statutory federal tax rate of 21%, now that the valuation has been removed since June 30, 2020, as well as an approximated 5% state income tax rate net of the federal benefit. During the three and nine months ended March 31, 2020, the effective tax rate represented the deferred tax expense related to the effects of indefinite lived intangible assets, such as goodwill, which could not be used as a source of future taxable income in evaluating the need for a valuation allowance against deferred tax assets as well as the effects of the state income tax expense for the period.