Income Taxes

3 Months Ended

Mar. 30, 2021

The following table presents the Company’s provision for income taxes (in thousands):


	Fiscal Quarter Ended
	March 30, 2021			March 31, 2020
(Benefit) provision for income taxes	$	(10)		$	13
Effective tax rate	0.5		%	(0.2)		%

The effective tax rate for the first quarter of 2021 and first quarter of 2020 reflects the impact of the previously recorded valuation allowance. For the remainder of fiscal 2021, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded. The Company will maintain the valuation allowance against deferred tax assets until there is sufficient evidence to support a full or partial reversal. The reversal of a previously recorded valuation allowance will generally result in a benefit from income tax.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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