Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.20.1
Income Taxes
6 Months Ended
Mar. 31, 2020
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 March 31, 2020 and 2019:

 

 

 

Three Months Ended,
March 31,

 

 

 

2020

 

 

2019

 

Provision for Income Taxes

 

 

10

 

 

 

(16 )

Effective Tax Rate

 

 

0 %

 

 

1 %

 

Our effective tax rate for the three-month period ended March 31, 2020, 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 full valuation allowance against the remaining net DTA position.

 

Our effective tax rate for the three-month period ended March 31, 2019 is lower than the statutory tax rate primarily due to a decrease 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 full valuation allowance against the remaining net DTA position.

 

The following table presents the provision for income taxes and our effective tax rate for the six-month periods ended March 31, 2020 and 2019:

 

 

 

Six Months Ended,
March 31,

 

 

 

2020

 

 

2019

 

Provision for Income Taxes

 

 

181

 

 

 

506

 

Effective Tax Rate

 

 

-2 %

 

 

-7 %

 

Our effective tax rate for the six-month period ended March 31, 2020 and 2019, 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 full valuation allowance against the remaining net DTA position.