5. Income Taxes

The Company’s provision for income taxes for the six months ended June 30, 2019 and 2018 is based on the estimated annual effective tax rate, plus discrete items. The following table presents the provision for income taxes and the effective tax rates for the three and six months ended June 30, 2019 and 2018 (in thousands):


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Income (loss) before Income Taxes	$	3,401		$	(156)		$	10,321		$	1,819
Income tax provision (benefit)		415			(1,191)			2,316			(598)
Effective tax rate		12.2	%		763.5	%		22.4	%		(32.9)	%

The difference between the Company’s effective tax rate for the three and six months ended June 30, 2019 and 2018 and the US statutory rate of 21% primarily relates to nondeductible expenses, federal income tax credits, state income taxes (net of federal benefit), Global Intangible Low-Taxed Income earned by certain foreign subsidiaries, the effect of taxes on foreign earnings and certain discrete items.