Income Taxes

3 Months Ended

Mar. 31, 2020

Income Taxes

Income Taxes

11.    Income Taxes

The Company has estimated that its effective income tax rate for 2020 will be 19.0%.  The primary reason for the effective income tax rate being below the federal statutory rate is due to statutory depletion, which is allowed for income tax purposes and is a permanent difference between net income for financial reporting purposes and taxable income.