Income Taxes

3 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 7. Income Taxes

The Company recorded an income tax benefit of approximately $627,000 for the three months ended June 30, 2022 compared to income tax expense of approximately $599,000 for the three months ended June 30, 2021. The Company’s effective tax rate increased to 26.1% for the three months ended June 30, 2022 from 25.7% for the three months ended June 30, 2021. The higher effective tax rate for the three months ended June 30, 2022 is attributed to discrete and other non-recurring items.