INCOME TAXES

6 Months Ended

Sep. 30, 2023

INCOME TAXES [Abstract]

INCOME TAXES

13. INCOME TAXES

Our provision for income tax expense was $12.3 million and $25.0 million for the three and six months ended September 30, 2023, as compared to $11.8 million and $20.5 million for the same periods in the prior year. Our effective tax rate for the three and six months ended September 30, 2023, was 27.4% and 27.3% respectively, compared with 29.3% and 28.7%, respectively, for the same periods in the prior year.  Our effective income tax rate for the three and six months ended September 30, 2023, was lower compared to the same periods in the prior year primarily due to lower state effective tax rates and less non-deductible executive compensation in the current period. The effective tax rate for the three and six months ended September 30, 2023, and September 30, 2022, differed from the US federal statutory rate of 21.0% primarily due to state and local income taxes.