Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 28, 2014
Income Tax Disclosure [Abstract]  
Provision for Federal and State Income Taxes
The provision for federal and state income taxes for the years ended December 28, 2014, December 29, 2013 and December 30, 2012 consisted of the following:
 
 
2014
 
2013
 
2012
Current Income Tax Expense
 
 
 
 
 
 
Federal
 
$

 
$

 
$

State
 
713

 
775

 
483

Total current income tax expense
 
713

 
775

 
483

Deferred income tax expense
 
 
 
 
 
 
Federal
 
3,506

 
3,216

 
1,552

State
 
118

 
205

 
208

Total deferred income tax expense
 
3,624

 
3,421

 
1,760

Total income tax expense
 
$
4,337

 
$
4,196

 
$
2,243

Schedule of Deferred Tax Assets and Liabilities
Temporary difference between tax and financial reporting basis of assets and liabilities that give rise to the deferred income tax assets (liabilities) and their related tax effects as of December 28, 2014 and December 29, 2013 are as follows:
 
 
2014
 
2013
Deferred tax assets:
 
 
 
 
Net operating loss carryforwards
 
$
643

 
$
4,571

Accrued liabilities
 
536

 
363

General business credits
 
10,121

 
7,582

Stock-based compensation
 
856

 
536

Other
 
168

 
107

Total deferred tax assets
 
12,324

 
13,159

Deferred tax liability:
 
 
 
 
Intangibles
 
(8,157
)
 
(7,123
)
Prepaid expenses
 
(590
)
 
(384
)
Property and equipment
 
(10,784
)
 
(9,773
)
Other
 

 
(26
)
Total deferred tax liabilities
 
(19,531
)
 
(17,306
)
Net deferred liabilities
 
$
(7,207
)
 
$
(4,147
)
Reconciliation of Federal Statutory Tax Expense to Effective Income Tax Expense
The effective income tax expense differs from the federal statutory tax expense for the fiscal years ended December 28, 2014, December 29, 2013 and December 30, 2012 as follows:
 
 
2014
 
2013
 
2012
Expected income tax expense
 
$
5,382

 
$
5,191

 
$
2,618

State tax expense, net of federal benefit
 
548

 
647

 
456

Non-deductible compensation
 
863

 
711

 
457

FICA tip credit
 
(2,539
)
 
(2,092
)
 
(1,342
)
Other
 
83

 
(261
)
 
54

Income tax expense
 
$
4,337

 
$
4,196

 
$
2,243