Income Taxes

3 Months Ended

May 04, 2019

IncomeTaxDisclosureAbstract

Income Taxes

NOTE 9 – INCOME TAXES:

The Company had an effective tax rate for the first quarter of 2019 of 16.9%compared to an effective tax rate of 11.9% for the first quarter of 2018. The increase in the 2019 first quarter tax rate was primarily due to more taxable interest income, more non-deductible section 162(m) compensation, increase in state income taxes due to less credits in 2019 and a release of reserves for uncertain tax positions due to state audit settlements in the first quarter of 2018.