Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 283

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 1
Chunk 283
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 Foreign

        (344
        )

        6

        455

        13

        $
        8,016

        $
        18,428

        $
        18,189

        $
        42,363

       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 are shown below (in thousands): 

        Three Months Ended December 31,

        Six Months Ended December 31,

        2024

        2023

        2024

        2023

        Current:

        Federal
         
        $
        1,593

        $
        3,965

        $
        2,918

        $
        8,352

        State and local

        224

        497

        378

        1,057

        Foreign

        225

        5

        501

        10

        $
        2,042

        $
        4,467

        $
        3,797

        $
        9,419

        Effective income tax rate

        25.5
        %

        24.2
        %

        20.9
        %

        22.2
        %
       
       Our provision for income taxes varied from the tax computed at the U.S. federal statutory income tax rates for the three and six months ended December 31, 2024 primarily due to the excess tax benefit from share-based compensation, partially offset by state taxes (net of federal tax benefit), foreign tax rate differential, Section 162(m) executive compensation disallowance, and other normal course non-deductible expenditures. Our provision for income taxes varied from the tax computed at the U.S. federal statutory income tax rates for the three and six months ended December 31, 2023 primarily due to the excess tax benefit from share-based compensation and the foreign derived intangible income special deduction, partially offset by state taxes (net of federal tax benefit), Section 162(m) executive compensation disallowance, and other normal course non-deductible expenditures.

32

Income Taxes Receivable and PayableAs of December 31, 2024 and June 30, 2024, we had an income tax receivable of $4.6 million and $1.6 million, respectively. Deferred Tax Assets and Liabilities