INCOME TAXES

6 Months Ended

Dec. 23, 2020

Income Tax Disclosure [Abstract]

Income Taxes

	Thirteen Week Periods Ended				Twenty-Six Week Periods Ended
	December 23, 2020		December 25, 2019		December 23, 2020		December 25, 2019
Effective income tax rate	(46.3)	%	3.8	%	(23.4)	%	6.6	%

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

Fiscal 2021

Our effective income tax rate for the thirteen and twenty-six week periods ended December 23, 2020 was lower than the federal statutory rate primarily due to lower income before income taxes and the favorable impact from the FICA tip tax credit. The twenty-six week period ended December 23, 2020 also included the favorable impact of excess tax windfalls associated with stock-based compensation.

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

	Twenty-Six Week Period Ended
	December 23, 2020
Income tax expense at statutory rate - 21.0%	$	3.9
FICA tip tax credit	(6.8)
Stock-based compensation tax windfall	(1.2)
State income taxes, net of federal benefit	1.3
Other	(1.5)
Provision (benefit) for income taxes - (23.4%)	$	(4.3)

Fiscal 2020

Our effective income tax rate for the thirteen and twenty-six week periods ended December 25, 2019 was lower than the federal statutory rate due to the favorable impact from the FICA tip tax credit.