Note L - Income Taxes

3 Months Ended

Jun. 26, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE L – INCOME TAXES

The income tax provisions for the thirteen week periods ended June 26, 2022 and June 27, 2021 reflect effective tax rates of 27.8% and 28.9%, respectively. The effective tax rates are higher than the statutory rates primarily due to state and local taxes.

The amount of unrecognized tax benefits included in Other Liabilities at June 26, 2022 and March 27, 2022 was $418 and $422, respectively, all of which would impact the Company’s effective rate, if recognized. As of June 26, 2022 and March 27, 2022, the Company had approximately $289 and $271, respectively, accrued for the payment of interest and penalties in connection with unrecognized tax benefits.