INCOME TAXES (Tables)

12 Months Ended

Sep. 28, 2019

Income Tax Disclosure [Abstract]

Components of the provision for income taxes

The components of our provision for income taxes for our fiscal years 2019 and 2018 are as follows:

	2019		2018
Current:
Federal	$	261,000	$	428,000
State		263,000		257,000
Deferred:		524,000		685,000
Federal		301,000		582,000
State		62,000		104,000
		363,000		686,000
	$	887,000	$	1,371,000

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:

	2019			2018
Tax provision at the statutory rate.	$	1,315,000		$	1,588,000
Non-controlling interests		(363,000	)		(402,000	)
State income taxes, net of federal income tax		231,000			248,000
FICA tip credit		(463,000	)		(440,000	)
True up adjustment		71,000			(7,000	)
Tax effect of rate change due to Tax Reform		51,000			336,000
Other permanent items		45,000			48,000
	$	887,000		$	1,371,000

Components of deferred tax assets

The components of our deferred tax assets at September 28, 2019 and September 29, 2018 were as follows:

	2019			2018
Current:
Reversal of aged payables	$	19,000		$	20,000
Capitalized inventory costs		20,000			23,000
Accrued bonuses		251,000			270,000
Accruals for potential uninsured claims		23,000			22,000
Gift cards		143,000			106,000
Limited partnership management fees		(325,000	)		(267,000	)
	$	131,000		$	174,000

Long-Term:
Book/tax differences in property and equipment	$	(205,000	)	$	154,000
Limited partnership investments		254,000			217,000
Accrued limited retirement		69,000			67,000
	$	118,000		$	438,000
Total Deferred Tax Assets	$	249,000		$	612,000