Income Taxes	6 Months Ended
Jun. 30, 2020
Income Taxes
Income Taxes	Note 9. Income Taxes Our effective income tax rates for the second quarter and six months ended June 30, 2020 were 20.9% and 22.4%, respectively, compared to 25.0% for the comparable 2019 periods. The declines in our effective income tax rates were mainly due to our lower income levels. The differences between our effective income tax rates and the U.S. federal statutory rate of 21.0% were mainly due to state income taxes partially offset by the effects of company-owned life insurance policies. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer’s share of social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impacts the CARES Act may have on our business.

Income Taxes

6 Months Ended

Jun. 30, 2020

Note 9. Income Taxes

Our effective income tax rates for the second quarter and six months ended June 30, 2020 were 20.9% and 22.4%, respectively, compared to 25.0% for the comparable 2019 periods. The declines in our effective income tax rates were mainly due to our lower income levels. The differences between our effective income tax rates and the U.S. federal statutory rate of 21.0% were mainly due to state income taxes partially offset by the effects of company-owned life insurance policies.

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer’s share of social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impacts the CARES Act may have on our business.