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Income Taxes

3 Months Ended

Mar. 31, 2021

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


	Three Months Ended March 31,
	2021			2020
Provision for income taxes	$	1,560		$	2,313
Effective tax rate	12.9		%	18.9		%

The effective tax rate for the three months ended March 31, 2021 and 2020, respectively, was less than the U.S. federal statutory rate of 21% due to favorable discrete items due to an excess tax benefit on stock-based compensation, partially offset by state taxes and nondeductible permanent differences.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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