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Income Taxes
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company follows guidance under ASC Topic 740-270, Interim Reporting, which requires that an estimated annual effective tax rate is applied to year-to-date ordinary income. At the end of each interim period, the Company estimates the effective tax rate expected to be applicable for the full fiscal year. The tax effect of discrete items is recorded in the quarter in which the discrete events occur.

For the three months ended March 31, 2021 and 2020 the Company recorded total income tax expense of $1.1 million and $22.5 million, respectively. The effective tax rate was higher than the statutory tax rate of 21% primarily due to state income taxes, non-deductible equity-based compensation, Follow-on Offering costs and other non-deductible expenses for tax reporting purposes.
As of the three months ended March 31, 2021 and March 31, 2020, no reserves for uncertain tax positions have been recorded. The Company will continue to monitor this position each interim period.