Income Taxes (Tables)

12 Months Ended

Mar. 26, 2017

Income Taxes

Effective Income Tax Rate Reconciliation

	2017		2016		2015
Statutory federal rate	34.0	%	34.0	%	34.2	%
State taxes, net of federal benefit	4.6		4.5		4.1
Non-deductible expenses	5.4		2.1		0.9
Other	(2.1)		(0.8)		—
Effective rate	41.9	%	39.8	%	39.2	%

Provision for Income Taxes

	2017		2016		2015
Federal:    Current	$	1,083,600	$	2,350,000	$	3,035,400
Deferred		(69,100)		763,100		1,964,800
State:        Current		53,100		345,100		398,500
Deferred		(26,400)		73,600		178,100
Provision for income taxes	$	1,041,200	$	3,531,800	$	5,576,800

Deferred Tax Assets and Liabilities

	2017		2016
Net deferred tax assets (liabilities):
Deferred compensation	$	142,600	$	357,500
Accrued vacation		566,900		534,200
Deferred rent		208,900		459,100
Allowance for doubtful accounts		259,300		266,300
Inventory reserves		2,338,800		2,264,500
Sales tax reserves		366,000		366,500
Other assets		800,000		475,200
Restricted Stock		—		—
Tax contingency reserve		215,800		247,600
Depreciation and amortization		(3,659,100)		(3,646,200)
Other liabilities		(461,600)		(374,100)
Accrued compensation		(286,300)		(577,600)
Prepaid expenses		(878,100)		(752,400)
Net Deferred Tax Liability	$	(386,800)	$	(379,400)

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

	2017		2016		2015
Beginning balance of unrecognized tax benefit	$	290,400	$	394,400	$	1,665,000
Decrease due to reclassification to income tax payable		—		—		(1,189,000)
Increase related to prior period tax positions		—		—		—
Increases related to current period tax positions		3,100		3,800		10,600
Reductions as a result of a lapse in the applicable statute of limitations		(89,000)		(107,800)		(92,200)
Ending balance of unrecognized tax benefits	$	204,500	$	290,400	$	394,400