v3.8.0.1

INCOME TAXES, Income Tax Reconciliation (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 31, 2017

Mar. 31, 2018

Mar. 31, 2017

Mar. 31, 2016

Income Tax Provision Reconciliation [Abstract]

Income taxes at federal income tax rate

$ 13,674

$ 17,889

$ 16,502

State income taxes, net of federal benefits

364

1,284

917

Non-deductible compensation

326

549

543

Research and development tax credits

(492)

(410)

(607)

Tax-exempt interest income

(3)

(1)

(2)

Qualified production activities income benefit

(599)

(910)

(761)

Federal rate change

$ 500

$ 2,900

3,539

^[1]

Other

(586)

(68)

(519)

Total income tax provision (benefit)

$ 16,223

$ 18,333

$ 16,073

Effective Income Tax Rate Reconciliation, Percent [Abstract]

Income taxes at federal income tax rate

21.00%

35.00%

31.50%

^[2]

35.00%

^[2]

35.00%

^[2]

State income taxes, net of federal benefits

0.80%

2.50%

2.00%

Non-deductible compensation

0.80%

1.10%

Research and development tax credits

(1.10%)

(0.80%)

(1.30%)

Qualified production activities income benefit

(1.40%)

(1.80%)

(1.60%)

Federal rate change

8.20%

0.00%

Other

(1.40%)

(0.10%)

(1.10%)

Effective tax rate

37.40%

35.90%

34.10%

[1]	The federal rate change is due to the impact of the Tax Act.
[2]	As of January 1, 2018, the U.S. federal corporate tax rate decreased from 35% to 21%, resulting in a blended statutory tax rate of 31.5% for fiscal 2018.

- Definition

Amount of reported income tax expense (benefit) in excess of (less than) expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operations, attributable to increase (decrease) in income tax rate and transition tax on accumulated earnings of controlled foreign corporation deemed repatriated pursuant to Tax Cuts and Jobs Act of 2017.

+ References

No definition available.

ABAXIS INC 10-K