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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2025
Income Taxes  
Schedule of effective income tax rate reconciliation

For the three months ended March 31, 2025 and 2024, the effective tax rates differ from the U.S. federal statutory income tax rate as follows:

March 31, 

2025

    

2024

Tax at federal statutory rate

21.0

%

21.0

%

State taxes, net

4.9

6.1

Permanent items (1)

0.4

2.0

Tax credits

(0.5)

(0.4)

Effective income tax rate

25.8

%

28.7

%

(1)Includes the deductibility limitations on excess compensation.