Income Taxes (Tables)

12 Months Ended

Mar. 27, 2016

Income Taxes

Effective Income Tax Rate Reconciliation

	2016		2015		2014
Statutory federal rate	34.0	%	34.2	%	35.0	%
State taxes, net of federal benefit	4.5		4.1		3.3
Non-deductible expenses	2.1		0.9		0.7
Other	(0.8)		—		(0.8)
Effective rate	39.8	%	39.2	%	38.2	%

Provision for Income Taxes

	2016		2015		2014
Federal:    Current	$	2,350,000	$	3,035,400	$	9,252,700
Deferred		763,100		1,964,800		(396,600)
State:        Current		345,100		398,500		1,212,400
Deferred		73,600		178,100		(5,400)
Provision for income taxes	$	3,531,800	$	5,576,800	$	10,063,100

Deferred Tax Assets and Liabilities

	2016		2015
Net deferred tax assets (liabilities):
Deferred compensation	$	357,500	$	802,700
Accrued vacation		534,200		554,100
Deferred rent		459,100		687,500
Allowance for doubtful accounts		266,300		232,800
Inventory reserves		2,264,500		2,175,500
Sales tax reserves		366,500		459,600
Other assets		475,200		516,000
Restricted Stock		—		89,600
Tax contingency reserve		247,600		286,200
Depreciation and amortization		(3,646,200)		(3,354,600)
Other liabilities		(374,100)		(312,400)
Accrued compensation		(577,600)		(873,700)
Prepaid expenses		(752,400)		(767,400)
Net Deferred Tax Asset (Liability)	$	(379,400)	$	495,900

Reconciliation of changes in unrecognized tax benefit amounts, net of interest

	2016		2015		2014
Beginning balance of unrecognized tax benefit	$	394,400	$	1,665,000	$	631,100
Decrease due to reclassification to income tax payable		—		(1,189,000)		—
Increase related to prior period tax positions		—		—		1,189,000
Increases related to current period tax positions		3,800		10,600		22,800
Reductions as a result of a lapse in the applicable statute of limitations		(107,800)		(92,200)		(177,900)
Ending balance of unrecognized tax benefits	$	290,400	$	394,400	$	1,665,000