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Income Taxes
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9 Months Ended |
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Sep. 30, 2012
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| Income Tax Disclosure [Abstract] | |
| Income Taxes |
INCOME TAXES
The provision for income taxes was $2,690,196 and $2,683,936, for the three months ended September 30, 2011 and 2012, respectively. The provision for income taxes was $8,341,730 and $5,292,453, for the nine months ended September 30, 2011 and 2012, respectively. The effective tax rate was 17.9% for the three months ended September 30, 2011 and 28.4% for the three months ended September 30, 2012. The effective tax rate was 24.0% for the nine months ended September 30, 2011 and 28.2% for the nine months ended September 30, 2012. The tax rate for the third quarter of 2011 included a net tax benefit of $936,389 relating to accrued interest on tax positions that were resolved during the related period. The tax rate for the third quarter of 2012 included a net tax expense of $1,820,848 including $49,060 of interest relating to an increase in the reserve for uncertain tax positions recorded during the period.
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- Details
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- Definition
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/presentationRef
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