Income Taxes (Tables)

12 Months Ended

Apr. 01, 2018

Income Taxes

Effective Income Tax Rate Reconciliation

	2018		2017		2016
Statutory federal rate	31.3	%	34.0	%	34.0	%
State taxes, net of federal benefit	4.0		4.6		4.5
Non-deductible expenses	4.4		5.4		2.1
Change in deferred tax related to key man life insurance	(7.3)		—		—
Other	(1.9)		(2.1)		(0.8)
Effective rate	30.5	%	41.9	%	39.8	%

Provision for Income Taxes

	2018		2017		2016
Federal:    Current	$	3,073,400	$	1,083,600	$	2,350,000
Deferred		(1,081,600)		(69,100)		763,100
State:        Current		433,400		53,100		345,100
Deferred		(148,000)		(26,400)		73,600
Provision for income taxes	$	2,277,200	$	1,041,200	$	3,531,800

Deferred Tax Assets and Liabilities

	2018		2017
Net deferred tax assets (liabilities):
Deferred compensation	$	160,600	$	142,600
Accrued vacation		340,200		566,900
Deferred rent		37,200		208,900
Allowance for doubtful accounts		249,700		259,300
Inventory reserves		1,414,600		2,338,800
Sales tax reserves		217,500		366,000
Other assets		1,364,900		800,000
Tax contingency reserve		83,400		215,800
Depreciation and amortization		(2,542,800)		(3,659,100)
Other liabilities		—		(461,600)
Accrued compensation		—		(286,300)
Prepaid expenses		(614,800)		(878,100)
Net Deferred Tax Assets/(Liabilities)	$	710,500	$	(386,800)

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

	2018		2017		2016
Beginning balance of unrecognized tax benefit	$	204,500	$	290,400	$	394,400
Increases related to current period tax positions		—		3,100		3,800
Reductions as a result of a lapse in the applicable statute of limitations		(91,800)		(89,000)		(107,800)
Ending balance of unrecognized tax benefits	$	112,700	$	204,500	$	290,400