Note 11 - Income Taxes

3 Months Ended

Mar. 29, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 11 - Income Taxes

We are subject to federal and state income tax as well as income tax in the foreign jurisdictions in which we operate. For both the first quarter of fiscal 2025 and 2024, we recorded income tax expense of approximately $3.0 million. 

Income taxes for the three-month period ended March 29, 2025 and March 30, 2024 represent tax at the federal, state, and foreign statutory tax rates in addition to stock-based compensation and other non-deductible items in federal, state, and foreign jurisdictions, as well as federal tax credits. The difference between the U.S. federal statutory tax rate of 21% and our effective tax rates for the three months ended March 29, 2025 and the three months ended March 30, 2024 resulted primarily from stock-based compensation and other non-deductible items in federal, state, and foreign jurisdictions.

The portion of our uncertain tax positions (including penalties and interest) recorded as a liability was $2.6 million and $2.5 million at March 29, 2025 and December 28, 2024, respectively, and is included as a component of Other long-term liabilities on our Consolidated Balance Sheets. The resolution of audits or expiration of statute of limitations could reduce our uncertain tax positions.