This excerpt taken from the BBG 8-K filed Jun 24, 2009.
Income Tax Expense. Our effective tax rates were 39.2% and 38.7% in 2007 and 2006, respectively. For both the 2007 and 2006 periods, our effective tax rate differs from the statutory rates primarily because we recorded stock-based compensation expense under Accounting Principles Board (APB) Opinion No. 25, Accounting for Stock Issued to Employees, and SFAS No. 123R, that is not deductible for income tax purposes. We have a significant deferred tax asset associated with NOLs. It is more likely than not that we will use these NOLs to offset and minimize current tax liabilities, including AMT, in future years.