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INCOME TAXES
 12 Months Ended
Jul. 30, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The components of the provision for income taxes are:
 20222021
Federal:  
Current$10,766 $7,172 
Deferred(3,547)(2,037)
State:  
Current6,561 4,229 
Deferred(1,546)(505)
 $12,234 $8,859 
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
 
 July 30,
2022		July 31,
2021
Deferred tax assets:  
Lease liabilities$100,275 $106,615 
Compensation related costs3,618 4,377 
Pension costs1,536 3,248 
Other710 552 
Total deferred tax assets106,139 114,792 
Deferred tax liabilities:  
Tax over book depreciation20,859 22,653 
Lease assets92,375 98,994 
Patronage dividend receivable3,950 4,162 
Investment in partnerships1,164 1,162 
Other2,206 611 
Total deferred tax liabilities120,554 127,582 
Net deferred tax liability$(14,415)$(12,790)
 
Deferred income tax assets (liabilities) are included in the following captions on the consolidated balance sheets at July 30, 2022 and July 31, 2021:
 July 30,
2022		July 31,
2021
Other assets515 1,642 
Other liabilities(14,930)(14,432)

A valuation allowance is provided when it is more likely than not that some portion of the deferred tax assets will not be realized. In management’s opinion, in view of the Company’s previous, current and projected taxable income and reversal of deferred tax liabilities, such tax assets will more likely than not be fully realized. Accordingly, no valuation allowance was deemed to be required at July 30, 2022 and July 31, 2021.

The effective income tax rate differs from the statutory federal income tax rate as follows:
 20222021
Statutory federal income tax rate21.0 %21.0 %
State income taxes, net of federal tax benefit10.1 %10.3 %
Other0.2 %(0.6)%
Effective income tax rate31.3 %30.7 %
The Company is not currently under audit by any tax authorities, but is open to examination with varying statutes of limitations, generally ranging from three to four years.