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TAXES	6 Months Ended
Jun. 30, 2021
TAXES
TAXES	NOTE 7. TAXES For the six months ended June 30, 2021 and 2020, the Company’s effective tax rate was 18.2% and 30.9%, respectively. The effective tax rate for the six months ended June 30, 2021 was a result of the excess tax benefit on stock option exercises. The high effective tax benefit rate for the six months ended June 30, 2020 was a result of the high weight of excess tax benefit on stock option exercises on the provision for income taxes, as the suspension of the operations in mid-March due to the COVID-19 pandemic resulted in a net loss for the three- and six-months ended June 30, 2020. As of June 30, 2021, $25.1 million “Income taxes receivable” in the Company’s consolidated balance sheet represents the expected federal and state tax refund for 2020 tax year. Deferred tax assets were evaluated by considering historical levels of income, estimates of future taxable income and the impact of tax planning strategies. No uncertain tax positions were recorded as of June 30, 2021 and 2020. No change in uncertain tax positions is anticipated over the next twelve months.

TAXES

6 Months Ended

Jun. 30, 2021

NOTE 7. TAXES

For the six months ended June 30, 2021 and 2020, the Company’s effective tax rate was 18.2% and 30.9%, respectively. The effective tax rate for the six months ended June 30, 2021 was a result of the excess tax benefit on stock option exercises. The high effective tax benefit rate for the six months ended June 30, 2020 was a result of the high weight of excess tax benefit on stock option exercises on the provision for income taxes, as the suspension of the operations in mid-March due to the COVID-19 pandemic resulted in a net loss for the three- and six-months ended June 30, 2020.

As of June 30, 2021, $25.1 million “Income taxes receivable” in the Company’s consolidated balance sheet represents the expected federal and state tax refund for 2020 tax year.

Deferred tax assets were evaluated by considering historical levels of income, estimates of future taxable income and the impact of tax planning strategies.

No uncertain tax positions were recorded as of June 30, 2021 and 2020. No change in uncertain tax positions is anticipated over the next twelve months.

- Definition

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.

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