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Income Taxes
9 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesIn determining the quarterly provision for income taxes we use an estimated annual effective tax rate which is based on expected annual income, statutory tax rates, and available tax planning opportunities in the various jurisdictions in which we operate. Unusual or infrequently occurring items are separately recognized in the quarter in which they occur. Our effective tax rates for the three and nine months ended March 31, 2022 were negative tax rates of (9.3)% and (3.3)%, respectively, driven by the book versus tax treatment of nondeductible goodwill impairment and earn-out valuation adjustments. Our effective tax rate for the three and nine months ended March 31, 2021 were 39.8% and 102.1%, respectively. These rates were higher than the combined federal and state statutory tax rate primarily due to R&D tax credits, which increased the tax benefit associated with the pre-tax losses during the quarter and year-to-date periods.