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Income Taxes

3 Months Ended

Mar. 31, 2021

6.	Income Taxes

For the three months ended March 31, 2021 and 2020, we recorded $53.1 million and $48.4 million of income tax expense and had an effective tax rate of 24.2% and 25.5%, respectively. The decrease in our effective tax rate for the three months ended March 31, 2021 compared with the same period in 2020 was primarily due to a favorable state law change during the three months ended March 31, 2021 with no corresponding favorable state law change during the three months ended March 31, 2020.

Our effective tax rate may differ from the federal statutory income tax rate of 21.0% due primarily to the effect of state and local income taxes. During the three months ended March 31, 2021 and 2020, cash paid for taxes, net of refunds received, was $13.3 million and $4.7 million, respectively. The increase in cash tax payments between the periods is primarily due to higher 2021 taxable income.

During the three months ended March 31, 2021, there were no significant changes to our uncertain tax positions. For more information, see Note 7, Income Taxes, of the Notes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and Supplementary Data” of our 2020 Annual Report on Form 10-K.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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