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Income Taxes: (Tables)
12 Months Ended
Dec. 29, 2012
Income Taxes:  
Schedule of the provision for income taxes

 

 

 

 

2012

 

2011

 

Current:

 

 

 

 

 

Federal

 

$

3,728,428

 

$

1,217,974

 

State

 

380,447

 

145,844

 

 

 

4,108,875

 

1,363,818

 

Deferred:

 

 

 

 

 

Federal

 

108,134

 

125,556

 

State

 

15,902

 

18,464

 

 

 

124,036

 

144,020

 

Total provision for income taxes

 

$

4,232,911

 

$

1,507,838

 

Schedule of income tax effects of temporary differences between financial and income tax reporting that give rise to the deferred income tax asset and liability

 

 

 

 

2012

 

2011

 

Deferred Tax Asset — current

 

 

 

 

 

Allowance for doubtful accounts

 

$

86,465

 

$

85,724

 

Accrued liabilities

 

474,303

 

543,720

 

Other

 

469,062

 

137,361

 

 

 

1,029,830

 

766,805

 

Deferred Tax Liability — noncurrent

 

 

 

 

 

Depreciation and amortization

 

(4,453,639

)

(4,019,638

)

Unrealized loss on interest rate swap

 

244,800

 

274,992

 

Other

 

241,027

 

194,086

 

 

 

(3,967,812

)

(3,550,560

)

Net deferred tax liability

 

$

(2,937,982

)

$

(2,783,755

)

Schedule of reconciliation between the amount determined by applying the statutory federal income tax rate to the income tax provision

 

 

 

 

December 29, 2012

 

December 31, 2011

 

Provision at statutory rate

 

$

3,971,685

 

34.0

%

$

1,469,998

 

34.0

%

State tax provision, net

 

364,722

 

3.1

 

166,638

 

3.9

 

Research Credits

 

(152,216

)

(1.3

)

(152,971

)

(3.5

)

Domestic Production benefits

 

(333,836

)

(2.9

)

(137,280

)

(3.2

)

Nondeductible expenses and other

 

382,556

 

3.3

 

161,453

 

3.7

 

Income tax provision

 

$

4,232,911

 

36.2

%

$

1,507,838

 

34.9

%