Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

Income Taxes
3 Months Ended
Dec. 31, 2019
Income Taxes  
12. Income Taxes

The following table presents the provision for income taxes and our effective tax rate for the three-month periods ended December 31, 2019 and 2018:



Three Months Ended,
December 31,






Provision for Income Taxes






Effective Tax Rate








The effective income tax rate on operations is based upon the estimated income for the year, and adjustments, if any, in the applicable quarterly periods for the potential tax consequences, benefits, resolutions of tax audits or other tax contingencies.


Our effective tax rate for the three months ended December 31, 2019 and 2018, is lower than the statutory tax rate primarily due to an increase in the deferred tax liability related to indefinite lived assets. Other than the deferred tax liability relating to indefinite lived asset, the Company is maintaining a valuation allowance against the remaining net DTA position.