Income Taxes (Tables)

12 Months Ended

Mar. 29, 2020

The provisions for income taxes for fiscal 2020, 2019 and 2018 were as follows:


	2020		2019		2018
(In thousands)
Federal — current	$	8,447	$	6,956	$	7,024
State — current	3,563		2,748		1,834
Total current	12,010		9,704		8,858

Federal — deferred	(976)		(334)		(14,393)
State — deferred	(445)		(273)		(364)
Total deferred	(1,421)		(607)		(14,757)
Total provision	$	10,589	$	9,097	$	(5,899)

Schedule of effective income tax rate reconciliation

Reconciliations of the provisions for income taxes to the applicable federal statutory income tax rate for fiscal 2020, 2019 and 2018 are listed below.


	2020		2019		2018
Statutory federal income tax	21.0	%	21.0	%	31.5	%
State income taxes, net of federal deduction	5.7	%	5.8	%	(8.3)	%
ESOP dividend deduction on allocated shares	(0.3)	%	(0.3)	%	1.4	%
Domestic production deduction	—	%	—	%	2.7	%
Goodwill impairment	—	%	—	%	(81.7)	%
Revaluation of net deferred tax liabilities	—	%	—	%	92.5	%


Other — net	0.8	%	0.6	%	1.0	%
Total	27.2	%	27.1	%	39.1	%

Schedule of deferred tax assets and liabilities

The tax effects of items comprising our net deferred tax liability as of March 29, 2020 and March 31, 2019 are as follows:


(In thousands)	2020		2019
Deferred tax assets:
Trade receivables	$	212	$	167
Stock compensation accruals	728		654
Pension withdrawal liability	1,435		1,525
Lease liability	2,476		—
Unrealized loss on interest rate swap	29		—
Other	1,982		1,853
Total deferred tax assets	$	6,862	$	4,199
Deferred tax liabilities:
Inventories	$	(2,231)	$	(3,272)
Prepaid expenses	(843)		(764)
Excess of tax over book depreciation	(10,504)		(10,000)
Intangible assets	(15,936)		(16,718)
Unrealized gain on interest rate swap	—		(118)
ROU asset	(2,454)		—
Total deferred tax liabilities	$	(31,968)	$	(30,872)
Net deferred tax liabilities	$	(25,106)	$	(26,673)