Income Taxes (Tables)

12 Months Ended

Sep. 24, 2024

Income Taxes [Abstract]

Schedule of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) are comprised of the following at the period end (in thousands):

	September 24, 2024 Long Term			September 26, 2023 Long Term
Deferred income tax assets (liabilities):
Tax effect of net operating loss carry-forward	$	3,426		$	3,622
General business credits		7,399			6,262
Deferred revenue		52			29
Intangibles basis differences		547			925
Long-term lease liability		9,443			10,613
Other future benefits		664			668
Deferred tax assets		21,531			22,119
Less valuation allowance		-			-
Deferred tax assets, net of valuation allowance		21,531			22,119
Partnership/joint venture basis differences		(95	)		(64	)
Property and Equipment basis differences		(1,599	)		(1,731	)
ROU asset		(7,630	)		(8,741	)
Deferred tax liabilities		(9,324	)		(10,536	)
Net deferred tax assets	$	12,207		$	11,583

Schedule of Provision for Income Taxes

The following table summarizes the components of the provision for income taxes (in thousands):

	Fiscal 2024			Fiscal 2023
Current:
Federal	$	-		$	-
State		-			4
		-			4
Deferred:
Federal		(632	)		(9,925	)
State		8			(866	)
		(624	)		(10,791	)
Total income tax benefit	$	(624	)	$	(10,787	)

Schedule of Income Tax Expense

The income tax expense for years ended September 24, 2024 and September 26, 2023 differed from the amounts computed by applying the U.S. Federal statutory tax rate to pre-tax income as follows (in thousands):

	Fiscal 2024			Fiscal 2023
U.S. Federal tax provision at statutory rate	$	208		$	182
State (tax benefit) income tax, net of federal tax benefit		(2	)		344
FICA/WOTC tax credits		(1,126	)		(989	)
Effect of change in valuation allowance		-			(10,535	)
Permanent differences		281			383
Other		15			(172	)
Provision for income taxes	$	(624	)	$	(10,787	)