TAXES

6 Months Ended

Jun. 30, 2023

TAXES

TAXES

NOTE 7. TAXES

For the six months ended June 30, 2023 and 2022, the Company’s effective tax rate was 22.2% and 17.8%, respectively. The effective tax rate for the six months ended June 30, 2023 and 2022 was impacted by excess tax benefit on stock option exercises, which were $0.4 million and $2.3 million for the six months ended June 30, 2023 and 2022, respectively.

Deferred tax assets were evaluated by considering historical levels of income, estimates of future taxable income and the impact of tax planning strategies.

No uncertain tax positions were recorded as of June 30, 2023 and 2022. No change in uncertain tax positions is anticipated over the next twelve months.