Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

8. INCOME TAXES

The following table summarizes the Company’s tax position:

	Three Months Ended March 31,
	2022			2021
Income Before Provision for Taxes	$	50,148		$	43,889
Provision for Taxes	$	5,680		$	93
Effective Income Tax Rate		11.3	%		0.2	%

The Company’s effective tax rate differed from the U.S. federal statutory tax rate for the three months ended March 31, 2022 primarily due to partnership income not being subject to U.S. corporate income taxes and permanent differences related to compensation.

The Company had no unrecognized tax benefits as of March 31, 2022.