Income Taxes (Tables)

12 Months Ended

Mar. 31, 2013

Effective Income Tax Rate Reconciliation

A reconciliation of the difference between the provision for income taxes computed at statutory rates and the provision for income taxes provided in the Consolidated Statements of Comprehensive Income is as follows:

	2013			2012			2011

Statutory federal rate		35.0	%		35.0	%		34.4	%
State taxes, net of federal benefit		2.9			2.6			2.1
Non-deductible expenses		0.5			0.5			1.0
Other		0.2			0.4			(1.9	)
Effective rate		38.6	%		38.5	%		35.6	%

Provision for Income Taxes

The provision for income taxes was comprised of the following:

	2013			2012		2011

Federal:Current	$	10,593,200		$	8,598,000	$	5,493,000
Deferred		(929,600	)		612,500		(581,400	)
State:Current		1,640,400			1,007,700		676,100
Deferred		(103,500	)		55,800		(51,000	)
Provision for income taxes	$	11,200,500		$	10,274,000	$	5,536,700

Deferred Tax Assets and Liabilities

Total deferred tax assets and deferred tax liabilities as of March 31, 2013 and April 1, 2012, and the sources of the differences between financial accounting and tax basis of the Company's assets and liabilities which give rise to the deferred tax assets and liabilities are as follows:

	2013		2012
Deferred tax assets:
Deferred compensation	$	1,448,900	$	1,571,700
Accrued vacation		435,400		416,600
Deferred rent		1,070,000		941,700
Allowance for doubtful accounts		448,800		312,800
Inventory reserves		1,254,000		1,126,200
Sales tax reserves		618,300		646,400
Other assets		951,900		546,100
Total deferred tax assets	$	6,227,300	$	5,561,500

Deferred tax liabilities:
Depreciation and amortization	$	3,373,100	$	3,773,000
Accrued compensation		--		320,400
Prepaid expenses		429,100		422,500
Other liabilities		149,600		154,000
Total deferred tax liabilities	$	3,951,800	$	4,669,900

Reconciliation of Changes in Gross Balance of Unrecognized Tax Benefit Amounts, Net of Interest

A reconciliation of the changes in the gross balance of unrecognized tax benefit amounts, net of interest, is as follows:

	2013		2012		2011
Beginning balance of unrecognized tax benefit	$	561,600	$	453,800	$	696,000
Increases related to prior period tax positions		--		--		92,200
Increases related to current period tax positions		69,500		107,800		--
Reductions as a result of a lapse in the applicable statute of limitations		--		--		(334,400	)
Ending balance of unrecognized tax benefits	$	631,100	$	561,600	$	453,800