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INCOME TAXES

3 Months Ended

Sep. 23, 2020


	Thirteen Week Periods Ended
		September 23, 2020		September 25, 2019
Effective income tax rate		(4.9)	%	11.3	%

The federal statutory tax rate for both periods presented was 21.0%.

Fiscal 2021

Our effective income tax rate for the thirteen week period ended September 23, 2020 was lower than the federal statutory rate primarily due to the favorable impact from the FICA tax credit and excess tax windfalls associated with stock-based compensation.

A reconciliation between the reported provision for income taxes and the amount computed by applying the statutory Federal income tax rate to Provision (benefit) for income taxes is as follows:


	Thirteen Week Period Ended
	September 23, 2020
Income tax expense at statutory rate	$	2.1
FICA tax credit	(1.9)
Stock-based compensation tax windfall	(1.1)
State income taxes, net of federal benefit	0.6

Other	(0.2)
Provision (benefit) for income taxes	$	(0.5)

Fiscal 2020

Our effective income tax rate for the thirteen week period ended September 25, 2019 was lower than the federal statutory rate due to the favorable impact from the FICA tax credit.

- 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.

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