Income Taxes

6 Months Ended

Jun. 30, 2025

Income Taxes

Income Taxes

Note 9.  Income Taxes

Our effective income tax rates for the second quarter and first six months of 2025 were 23.0% and 23.3%, respectively, compared to 23.3% for the same 2024 periods. 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.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted. The law included, among other things, 100% bonus depreciation for qualified assets and new limitation on the deductibility of charitable donations. We do not expect the law will have a material impact on our effective tax rate. However, we anticipate the bonus depreciation will impact our deferred income taxes and income tax payments.