Note 11 - Income Taxes

6 Months Ended

Apr. 01, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

11.

   INCOME TAXES

At the beginning of the

second

quarter of fiscal

2017,

we prospectively adopted FASB Accounting Standards Update ("ASU")

2015

-

17,

"Balance Sheet Classification of Deferred Taxes (Topic

740)"

which requires that deferred tax liabilities and assets be netted for each tax-paying component and classified as noncurrent in a classified statement of financial position. Prior periods were not retrospectively adjusted.

Income tax expense differs from the amounts computed by applying the statutory U.S. federal tax rate to income before income taxes as a result of state income taxes, net of federal tax benefit, differences between U.S. and foreign tax rates, the domestic production deduction and the

$732,000

gain on life insurance proceeds discussed in Note

9.