Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The Company is no longer subject to U.S. federal examinations for years before 2020 or state examinations for years before 2019. During the six months ended June 30, 2024 and 2023, the Company did not identify nor reserve for any unrecognized tax benefits.
Our income tax benefit and overall effective tax rates for continuing operations for the periods presented are as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2024 2023 2024 2023
Income tax benefit $ (44) $ (1,693) $ (1,210) $ (3,301)
Effective income tax rate 18.0  % 21.6  % 22.0  % 21.7  %

The effective tax rate for continuing operations was 18.0% and 22.0% for the three and six months ended June 30, 2024. The three months ended June 30, 2024 effective tax rate was lower than the U.S. statutory rate of 21.0% primarily due to permanent items and state tax benefits relative to pretax losses, partially offset with discrete tax charges related to stock based compensation. The six months ended June 30, 2024 effective tax rate was higher than the U.S. statutory rate of 21.0% primarily due to the amount of state tax benefit relative to pretax losses.
The effective tax rate for continuing operation was 21.6% and 21.7% for the three and six months ended June 30, 2023. The three and six months ended June 30, 2023, effective tax rate was higher than the U.S. statutory rate 21.0% primarily due to the amount of state tax benefit relative to pretax losses.