Note 8 - Income Taxes (Tables)

12 Months Ended

Jun. 28, 2020

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Ju ne 28 , 2020		June 30, 2019
Deferred tax assets:
Other	$	11,281	$	9,169
Total deferred tax assets		11,281		9,169
Deferred tax liabilities:
Land, buildings, and equipment		487,387		447,848
Unrealized gain on securities		850,285		964,828
Total deferred tax liabilities		1,337,672		1,412,676
Net deferred income taxes	$	1,326,391	$	1,403,507

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the Years Ended
	20 20			2019
Taxes computed at statutory rate		21.0	%		21.0	%
State income taxes, net of Federal income tax benefit		3.5			3.8
Dividends received exclusion		(9.6	)		(0.9	)
Tip credit and other		(14.7	)		(1.2	)
Net effective rate		0.2	%		22.7	%