Provision for Income Taxes
|9 Months Ended|
Jun. 30, 2022
|Income Tax Disclosure [Abstract]|
|Provision for Income Taxes||Provision for Income Taxes
The Company files a consolidated United States federal income tax return and income tax returns in various states. Management evaluated the Company’s tax positions based on appropriate provisions of applicable tax laws and regulations and believes that they are supportable based on their specific technical merits and the facts and circumstances of the respective transactions.
The Company’s effective income tax rate for the three months ended June 30, 2022 and 2021 was 24.5% and 33.0%, respectively. The Company’s effective tax rate for the nine months ended June 30, 2022 and 2021 was 25.8% and 32.0%, respectively. The changes in the Company's effective rates are due to differences in state tax rates at its operating subsidiaries and an unfavorable impact of a non-deductible legal settlement incurred in the three months ended June 30, 2021.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef