Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
16. Income Taxes The Company is an LLC treated as a partnership for income tax reporting. As such, its members are liable for federal, state, and local income taxes based on their share of the LLC’s taxable income. The Company owns several operating subsidiaries which are considered C-Corporations for U.S. federal, state and local income tax purposes. Taxable income or loss from these corporations is not passed through to the Company. Instead, it is taxed at the corporate level subject to the prevailing corporate tax rates. The Company’s effective tax rate from continuing operations was 3.55% and 3.08% for the three months ended June 30, 2021 and 2020, respectively. The Company’s effective tax rate from continuing operations was 7.12% and 4.77% for the six months ended June 30, 2021 and 2020, respectively. The quarterly effective tax rates are significantly different from the 21% statutory tax rate due to the Company being a partnership for income tax reporting. |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- 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/disclosureRef
|