TAXES

3 Months Ended

Mar. 31, 2023

TAXES

TAXES

NOTE 7. TAXES

For the three months ended March 31, 2023 and 2022, the Company’s effective tax rate was 21.7% and 12.5%, respectively. The effective tax rate for the three months ended March 31, 2023 and 2022 was impacted by excess tax benefit on stock option exercises.

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 March 31, 2023 and 2022. No change in uncertain tax positions is anticipated over the next twelve months.