Note 13 - Income Taxes

9 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

13. Income Taxes

The effective tax rate was ( 137.7 )% and 34.3% for the nine month periods ended December 30, 2017 and December 31, 2016, respectively. The 172.0 percentage point decrease in the effective tax rate represents the tax rate change which reduced the tax provision by $1,241,000 due to the recently passed Tax Cut and Jobs Act.  This amount reflects the effect of the rate change on beginning of the year deferred tax balances.

The Tax Cut and Jobs Act was signed into law on

December 22, 2017

and reduced the federal corporate income tax rate from

35%

to

21%.