Income Taxes

9 Months Ended

Jun. 30, 2023

Income Taxes

Income Taxes

Note 5.  Income Taxes

Income tax expense for the three and nine months ended June 30, 2022 and 2023 differed from the U.S. federal statutory rate of 21.0%, primarily due to state income taxes, differing tax rates on foreign earnings and discrete tax items that impacted income tax expense (benefit) in these periods.  The effective tax rate for the three months ended June 30, 2023 was 23.5% on $11,449 of income before income taxes compared to 24.8% on income before income taxes of $20,757 for the three months ended June 30, 2022.  The effective tax rate for the nine months ended June 30, 2023 was 22.2% on $37,072 of income before income taxes compared to 25.0% on income before income taxes of $38,330 for the nine months ended June 30, 2022.