Note 8. - Income Taxes	3 Months Ended
Jan. 03, 2021
Notes
Note 8. - Income Taxes	NOTE 8. INCOME TAXES For the three month period ended January 3, 2021, the Company reported pre-tax income of $318,635. For the fiscal year ending October 3, 2021, the Company expects to generate pre-tax income and to record a tax provision at a blended effective federal and state income tax rate of approximately 27.0%. The Company recorded a net income tax provision of $90,700 for the three month period ended January 3, 2021, comprised of a federal expense of $60,700 and a State of Georgia expense of $30,000. The Company’s net income tax provision for the three month period ended December 29, 2019 was a tax benefit of $20,700, comprised of a federal benefit of $23,900 and a State of Georgia expense of $3,200.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details