|9 Months Ended|
Sep. 30, 2020
|Income Tax Disclosure [Abstract]|
NOTE 13. INCOME TAXES
The effective tax rates for the three months ended September 30, 2020 and 2019 were 20.4% and 20.5%, respectively. The effective tax rates for the nine months ended September 30, 2020 and 2019 were 17.9% and 20.0%, respectively. The effective tax rate for the nine months ended September 30, 2020 was favorably impacted by a discrete income tax benefit in the amount of $575 thousand driven by the Company’s decision to carry back certain net operating losses as allowed by the CARES Act, which was enacted on March 27, 2020. The Company does not anticipate any additional significant impact from other provisions of the CARES Act.
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