INCOME TAXES (Tables)

12 Months Ended

Sep. 27, 2014

INCOME TAXES [Abstract]

Components of the provision for income taxes

The components of our provision for income taxes for our fiscal years 2014 and 2013 are as follows:

	2014		2013
Current:
Federal	$	1,008,000		$	803,000
State		248,000			218,000
		1,256,000			1,021,000
Deferred:
Federal		63,000			(96,000	)
State		7,000			(10,000	)
		70,000			(106,000	)
	$	1,326,000		$	915,000

Reconciliation of income tax computed at the statutory federal rate to income tax expense

A reconciliation of income tax computed at the statutory federal rate to income tax expense is as follows:

	2014		2013
Tax provision at the statutory rate of 34%	$	1,390,000		$	983,000
State income taxes, net of federal income tax		170,000			121,000
FICA tip credit		(256,000	)		(241,000	)
True up adjustment		(7,000	)		22,000
Other permanent items		29,000			30,000
	$	1,326,000		$	915,000

Components of deferred tax assets

The components of our deferred tax assets at September 27, 2014 and September 28, 2013 were as follows:

	2014		2013
Current:
Reversal of aged payables	$	27,000		$	27,000
Capitalized inventory costs		29,000			26,000
Accrued bonuses		272,000			222,000
Accruals for potential uninsured claims		89,000			57,000
Gift cards		120,000			108,000
Limited partnership management fees		(94,000	)		27,000
	$	443,000		$	467,000
Long-Term:
Book/tax differences in property and equipment	$	664,000		$	632,000
Limited partnership investments		227,000			299,000
Accrued limited retirement		34,000			40,000
	$	925,000		$	971,000