INCOME TAXES (Tables)

12 Months Ended

Dec. 28, 2019

INCOME TAXES

Summary of provision (benefit) for income taxes for continuing operations

The (benefit) provision for income taxes is summarized as follows (amounts in thousands):

	2019		2018
Federal: Current	$	(66)	$	(387)
Deferred		(3,449)		(1,454)
State:     Current		3		1
Deferred		(804)		(345)
	$	(4,316)	$	(2,185)

Schedule of difference between the tax rate for continuing operations on income or loss for financial statement purposes and the federal statutory tax rate

	2019		2018
Statutory tax rate	(21.0)	%	(21.0)	%
Percentage depletion	—		(0.9)
Non-deductible expenses	0.1		0.4
Valuation allowance for tax assets	0.5		1.2
State income taxes, net of federal benefit	(4.5)		(4.5)
Other	1.2		(2.4)
	(23.7)	%	(27.2)	%

Schedule of principal temporary differences and the related deferred taxes

The principal temporary differences and their related deferred taxes are as follows (amounts in thousands):

	2019		2018
Deferred tax assets
Reserves for self-insured losses	$	417	$	466
Accrued reclamation		1,972		1,445
Unfunded supplemental profit sharing plan liability		431		263
Asset valuation reserves		439		685
Future state tax credits		833		833
Net state operating loss carryforwards		812		226
Federal AMT carryforward		116		387
Federal NOL carryforward		3,226		468
Other		939		700
		9,185		5,473
Deferred tax liabilities
Depreciation		833		1,200
Deferred development		—		116
Other		285		443
		1,118		1,759
Net deferred tax asset before valuation allowance		8,067		3,714
Valuation allowance
Beginning balance		(300)		(200)
(Increase) decrease during the period		(100)		(100)
Ending Balance		(400)		(300)
Net deferred tax asset	$	7,667	$	3,414