Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES

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INCOME TAXES
3 Months Ended
Mar. 31, 2021
INCOME TAXES  
INCOME TAXES

7. INCOME TAXES

The Company’s effective income tax rate for the three-months ended March 31, 2021 and 2020 was (6.2)% and (2.2)%, respectively. The Company’s tax rate differs from the statutory rate of 21.0% primarily due to the effects of valuation allowances against net deferred tax assets, as well as certain permanent item differences between tax and financial reporting purposes.