Income Taxes	3 Months Ended
Jul. 31, 2020
Income Taxes
Income Taxes	7. Income Taxes General. The Company’s effective income tax rate on continuing operations was 26.1% and 23.4% for the three months ended July 31, 2020 and 2019, respectively. The increase in the effective income tax rate over the U.S. federal statutory rate of 21.0% is primarily due to the impact of state taxes, foreign taxes and a change in the valuation allowance. Valuation allowance. The Company had a valuation allowance of $13.7 million and $10.2 million against its deferred tax assets related to certain U.S. tax jurisdictions as of July 31, 2020 and April 30, 2020, respectively. To the extent the Company generates sufficient taxable income in the future to utilize the tax benefits of the net deferred tax assets on which a valuation allowance is recorded, the effective tax rate may decrease as the valuation allowance is reversed. Uncertain tax positions. The Company had no reserve for uncertain tax positions as of July 31, 2020 or April 30, 2020.

Income Taxes

3 Months Ended

Jul. 31, 2020

7. Income Taxes

General. The Company’s effective income tax rate on continuing operations was 26.1% and 23.4% for the three months ended July 31, 2020 and 2019, respectively. The increase in the effective income tax rate over the U.S. federal statutory rate of 21.0% is primarily due to the impact of state taxes, foreign taxes and a change in the valuation allowance.

Valuation allowance. The Company had a valuation allowance of $13.7 million and $10.2 million against its deferred tax assets related to certain U.S. tax jurisdictions as of July 31, 2020 and April 30, 2020, respectively. To the extent the Company generates sufficient taxable income in the future to utilize the tax benefits of the net deferred tax assets on which a valuation allowance is recorded, the effective tax rate may decrease as the valuation allowance is reversed.

Uncertain tax positions. The Company had no reserve for uncertain tax positions as of July 31, 2020 or April 30, 2020.