Income Taxes (Tables)

12 Months Ended

Nov. 02, 2024

Income Tax Disclosure [Abstract]

Summary of Provision for Income Taxes

The provision for income taxes for the years ended November 2, 2024 and November 4, 2023.

	November 2,		November 4,
	2024		2023
Current tax expense:
Federal	$	2,219,829	$	2,920,036
State		611,212		807,025
Deferred tax (benefit)		29,646		(46,496	)
Provision for income taxes	$	2,860,687	$	3,680,565

Reconciliation Between Statutory Federal Income Tax Rate and Actual Provision for Income Taxes

The following table shows the reconciliation between the statutory federal income tax rate and the actual provision for income taxes for the years ended at November 2, 2024 and November 4, 2023.

	November 2,			November 4,
	2024			2023
Provision—federal statutory tax rate	$	2,406,200		$	3,061,771
Increase (decrease) resulting from:
State taxes, net of federal tax benefit		497,854			633,495
Other		(43,367	)		(14,701	)
Provision for income taxes	$	2,860,687		$	3,680,565

Deferred Tax Assets and Deferred Tax Liabilities

The types of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts and the related deferred tax assets and deferred tax liabilities for the years ended November 2, 2024 and November 3, 2024.

	November 2,			November 4,
	2024			2023
Deferred tax assets:
Prepaid Expenses .	$	15,150		$	14,995
Accrued expenses		216,892			236,617
Other assets		24,611			34,399
Stock-based compensation		89,223			63,741
Total deferred tax assets		345,876			349,752
Deferred tax liabilities:
Depreciation		(105,190	)		(100,739	)
Carrying value of investments		(130,400	)		(90,908	)
Amortization		(39,610	)		(39,374	)
Prepaid expenses		(10,048	)		(28,457	)
Net deferred tax assets (liabilities)	$	60,628		$	90,274

Accompanying Deferred Non-current Tax Assets and Liabilities in Consolidated Balance Sheet

These amounts are included in the accompanying consolidated balance sheets under the following captions for the years ended November 2, 2024 and November 4, 2023.

	November 2,			November 4,
	2024			2023
Non-current assets (liabilities):
Deferred tax assets		345,876			349,752
Deferred tax liabilities		(285,248	)		(259,478	)
Net non-current deferred tax assets (liabilities)		60,628			90,274
Net deferred tax assets (liabilities)	$	60,628		$	90,274