INCOME TAXES (Tables)

12 Months Ended

Oct. 02, 2021

Income Tax Disclosure [Abstract]

Components of the provision for income taxes

The components of our provision for income taxes for our fiscal years 2021 and 2020 are as follows:

	2021		2020
Current:
Federal	$	251,000	$	(70,000	)
State		176,000		113,000
Deferred:		427,000		43,000
Federal		649,000		(88,000	)
State		109,000		(15,000	)
		758,000		(103,000	)
	$	1,185,000	$	(60,000	)

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:

	2021			2020
Tax provision at the statutory rate	$	3,770,000		$	446,000
Non-controlling interests		(1,046,000	)		(226,000	)
State income taxes, net of federal income tax		196,000			43,000
FICA tip credit		(297,000	)		(418,000	)
True up adjustment		115,000			43,000
Tax effect of rate change due to Tax Reform		(1,000	)		13,000
PPP forgiveness		(1,576,000	)		—
Other permanent items		24,000			39,000
	$	1,185,000		$	(60,000	)

Components of deferred tax assets

The components of our deferred tax assets at October 2, 2021 and October 3, 2020 were as follows:

	2021			2020
Long-Term:
Reversal of aged payables	$	18,000		$	18,000
Capitalized inventory costs		26,000			22,000
Accrued bonuses		96,000			166,000
Accruals for potential uninsured claims		34,000			27,000
Gift cards		195,000			162,000
Limited partnership management fees		(720,000	)		(192,000	)
Tip credit		85,000			7,000
Book/tax differences in property and equipment		(886,000	)		(507,000	)
Book/tax differences in operating leases		428,000			279,000
Limited partnership investments		264,000			307,000
Accrued limited retirement		54,000			63,000
Total Deferred Tax Assets (Liabilities)	$	(406,000	)	$	352,000