Income Taxes	6 Months Ended
Mar. 31, 2019
Income Taxes
Income Taxes	Note 5. Income Taxes On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (“the Act”), which made significant changes to U.S. federal income tax law including, among other things, lowering corporate income tax rates, permitting bonus depreciation that will allow for full expensing of qualified property and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. Beginning October 1, 2017 and continuing through September 30, 2018, the Company’s U.S. income was taxed at a 24.5% federal tax rate after which time the federal tax rate applicable to the Company was lowered to 21.0%. Deferred tax assets beginning as of December 31, 2017 were revalued to the lower statutory rates of 24.5% or 21.0%, depending upon the projected timing of the reversal of those assets. The estimated impact of the revaluation of the deferred tax assets resulted in increased tax expense in the first six months of fiscal 2018 of $17,954, which was recorded as a discrete accounting adjustment. Income tax expense for the three and six months ended March 31, 2018 and 2019 differed from the U.S. federal statutory rates of 24.5% and 21.0%, respectively, primarily due to state income taxes, differing tax rates on foreign earnings and discrete tax items that impacted income tax expense in these periods. The effective tax rate for the three months ended March 31, 2019 was 26.0% on $2,039 of income before income taxes and 128.1% on income before income taxes of $335 for the six months ended March 31, 2019. Income tax expense in the first three and six months of fiscal 2019 was unfavorably impacted by the forfeiture of unexercised stock options, which resulted in $0.3 million of additional tax expense.

Note 5. Income Taxes

On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (“the Act”), which made significant changes to U.S. federal income tax law including, among other things, lowering corporate income tax rates, permitting bonus depreciation that will allow for full expensing of qualified property and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. Beginning October 1, 2017 and continuing through September 30, 2018, the Company’s U.S. income was taxed at a 24.5% federal tax rate after which time the federal tax rate applicable to the Company was lowered to 21.0%. Deferred tax assets beginning as of December 31, 2017 were revalued to the lower statutory rates of 24.5% or 21.0%, depending upon the projected timing of the reversal of those assets. The estimated impact of the revaluation of the deferred tax assets resulted in increased tax expense in the first six months of fiscal 2018 of $17,954, which was recorded as a discrete accounting adjustment.

Income tax expense for the three and six months ended March 31, 2018 and 2019 differed from the U.S. federal statutory rates of 24.5% and 21.0%, respectively, primarily due to state income taxes, differing tax rates on foreign earnings and discrete tax items that impacted income tax expense in these periods. The effective tax rate for the three months ended March 31, 2019 was 26.0% on $2,039 of income before income taxes and 128.1% on income before income taxes of $335 for the six months ended March 31, 2019. Income tax expense in the first three and six months of fiscal 2019 was unfavorably impacted by the forfeiture of unexercised stock options, which resulted in $0.3 million of additional tax expense.