Income Taxes

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

4. INCOME TAXES

The Company’s effective income tax rates of 25.5% and 28.6% for the three months ended June 30, 2025 and June 30, 2024, respectively, were higher than the U.S. federal statutory rate of 21.0% primarily resulting from state income taxes and non-deductible officer’s compensation. The Company’s effective income tax rates of 24.0% and 26.6% for the six months ended June 30, 2025 and June 30, 2024, respectively, were higher than the U.S. federal statutory rate of 21.0% primarily resulting from state income taxes and non-deductible officer’s compensation, partially offset by tax benefits from the remeasurement of deferred income tax liabilities, as a result of certain entity classification elections that were made in the first quarters of 2025 and 2024, which decreased income attributable to states with higher tax rates compared to prior year.