XML 20 R18.htm IDEA: XBRL DOCUMENT

Note 10 - Income Taxes	3 Months Ended
Jun. 30, 2013
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE J – INCOME TAXES The income tax provisions for the thirteen-week periods ended June 30, 2013 and June 24, 2012 reflect effective tax rates of 39.3% and 38.5%, respectively, which have been reduced from statutory rates by 0.7% and 1.2%, respectively, for the differing effects of tax exempt interest income. The amount of unrecognized tax benefits at June 30, 2013 was $303,000, all of which would impact Nathan’s effective tax rate, if recognized. As of June 30, 2013, Nathan’s had $347,000 of accrued interest and penalties in connection with unrecognized tax benefits. During the fiscal year ending March 30, 2014, Nathan’s will seek to settle additional uncertain tax positions with the tax authorities. As a result, it is possible the amount of unrecognized tax benefits, including the related accrued interest and penalties, could be reduced by up to $67,000, which would favorably impact Nathan’s effective tax rate, although no assurances can be given in this regard. Nathan’s estimates that its annual tax rate for the fiscal year ending March 30, 2014 will be in the range of approximately 39.0% to 41.0%. The final annual tax rate is subject to many variables, including the effect of tax-exempt interest earned, among other factors, and therefore cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from our current estimates.

Note 10 - Income Taxes

3 Months Ended

Jun. 30, 2013

NOTE J – INCOME TAXES

The income tax provisions for the thirteen-week periods ended June 30, 2013 and June 24, 2012 reflect effective tax rates of 39.3% and 38.5%, respectively, which have been reduced from statutory rates by 0.7% and 1.2%, respectively, for the differing effects of tax exempt interest income.

The amount of unrecognized tax benefits at June 30, 2013 was $303,000, all of which would impact Nathan’s effective tax rate, if recognized. As of June 30, 2013, Nathan’s had $347,000 of accrued interest and penalties in connection with unrecognized tax benefits.

During the fiscal year ending March 30, 2014, Nathan’s will seek to settle additional uncertain tax positions with the tax authorities. As a result, it is possible the amount of unrecognized tax benefits, including the related accrued interest and penalties, could be reduced by up to $67,000, which would favorably impact Nathan’s effective tax rate, although no assurances can be given in this regard.

Nathan’s estimates that its annual tax rate for the fiscal year ending March 30, 2014 will be in the range of approximately 39.0% to 41.0%. The final annual tax rate is subject to many variables, including the effect of tax-exempt interest earned, among other factors, and therefore cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from our current estimates.

- 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.

+ References+ Details