INCOME TAXES

The following table summarizes the provision for income taxes for continuing operations for the three months ended March 31, and the applicable effective tax rates (in thousands):



	Three Months Ended March 31,
	2015			2014
Provision for (benefit of) income taxes	$	3,292		$	(1,251	)
Effective tax rate	37.3		%	(37.5		)%

The Company’s provision for income taxes in interim periods is computed by applying forecasted annual effective tax rates to income or loss before income taxes for the interim period. In addition, non-recurring or discrete items, including interest on prior year tax liabilities, are recorded during the period in which they occur. To the extent that actual income or loss before taxes for the full year differs from the forecast estimates applied at the end of the most recent interim period, the actual tax rate recognized for the year ending December 31, 2015 could be materially different from the forecasted rate used for the three months ended March 31, 2015.

The effective tax rates for the first q uarters ended March 31, 2015 and March 31, 2014 exceeded the U.S. federal statutory rate of 35% due to state taxes partially offset by favorable permanent differences.