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Note 15 - Income Taxes
9 Months Ended
Sep. 26, 2020
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
15.
Income Taxes
 
The Company recognized
$2.8
million of income tax benefit for the
thirty-nine
week period ended
September 26, 2020,
as compared to an income tax expense of
$0.3
million for the comparable prior year period.  The consolidated effective income tax rate for the current period was
28.2%
as compared to
25.9%
for the comparable prior year period. The projected fiscal
2020
income tax rates as of
September 26, 2020,
were approximately
27.0%,
26.7%
and
15.1%
in the United States, Canada and Serbia, respectively. The relative income or loss generated in each jurisdiction can materially impact the overall effective income tax rate of the Company, particularly the ratio of Canadian and Serbian pretax income versus U.S. pretax income.  The comparable prior year period estimated income tax rates were
28.3%,
26.5%
and
15.0%
in the United States, Canada and Serbia, respectively. 
 
Differences between the effective tax rate and the applicable U.S. federal statutory rate
may
arise, primarily from the effect of state and local income taxes, share-based compensation, and potential tax credits available to the Company. The actual
2020
effective tax rate
may
vary from the estimate depending on the actual operating income earned in various jurisdictions, the potential availability of tax credits, and the exercise of stock options and vesting of share-based awards. The Company's estimate for the
2020
effective tax rate has
not
been adjusted for any potential impact related to COVID-
19.