Income Taxes (Text Block)

3 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAXES

Provision for income taxes increased for the three months ended September 30, 2022, compared to the three months ended September 30, 2021, with an effective tax rate of 23.5% of income before income taxes, compared to 23.4% in the prior fiscal year quarter.

The Company paid income taxes, net of refunds, of $2,828 and $15,187 in the three months ended September 30, 2022 and 2021, respectively.

At September 30, 2022, the Company had $9,586 of gross unrecognized tax benefits before interest and penalties, $8,532 of which, if recognized, would affect our effective tax rate. At September 30, 2022, the Company had accrued interest and penalties of $1,360 related to uncertain tax positions.

The U.S. federal income tax returns for fiscal 2019 and all subsequent years remain subject to examination as of September 30, 2022, under statute of limitations rules. The U.S. state income tax returns that remain subject to examination as of September 30, 2022, under the statute of limitation rules varies by state jurisdiction from fiscal 2016 through 2019 and all subsequent years. The Company anticipates potential changes due to lapsing of statutes of limitations, and examination closures could reduce the unrecognized tax benefits balance by $1,500 to $3,500 within twelve months of September 30, 2022.