Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

v3.19.3.a.u2
Income Taxes (Tables)
6 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of components of income tax provision
Net income from operations before provision for income taxes is shown below:
in thousands
 
 
 
 
 
 
 
 
 

 
Three Months Ended
 
Six Months Ended
 
 
 
December 31, 2019
 
December 31, 2018
 
December 31, 2019
 
December 31, 2018
 
U.S.
 
$
1,681

 
$
934

 
$
2,082

 
$
2,859

 
Foreign
 
6

 
10

 
13

 
18

 
 
 
$
1,687

 
$
944

 
$
2,095

 
$
2,877

 
 
 
 
 
 
 
 
 
 
 

The Company files a consolidated federal income tax return based on a June 30 tax year end. The provision for income tax expense by jurisdiction and the effective tax rate for the three and six months ended December 31, 2019 and 2018 are shown below:
in thousands
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
December 31, 2019
 
December 31, 2018
 
December 31, 2019
 
December 31, 2018
 
Federal
 
$
353

 
$
202

 
$
438

 
$
621

 
State and local
 
78

 
38

 
97

 
116

 
Foreign
 
1

 
2

 
2

 
4

 
Income tax expense
 
$
432

 
$
242

 
$
537

 
$
741

 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
 
25.6
%
 
25.6
%
 
25.6
%
 
25.8
%