INCOME TAXES

6 Months Ended

Dec. 29, 2021

Income Tax Disclosure [Abstract]

Income Taxes

	Thirteen Week Periods Ended				Twenty-Six Week Periods Ended
	December 29, 2021		December 23, 2020		December 29, 2021		December 23, 2020
Effective income tax rate	5.2	%	(46.3)	%	4.0	%	(23.4)	%

The federal statutory tax rate for the periods presented was 21.0%. Our effective income tax rate for the thirteen and twenty-six week periods ended December 29, 2021 was lower than the federal statutory rate primarily due to the favorable impact from the FICA tip tax credit. The twenty-six week period ended December 29, 2021 also included the favorable impact of excess tax benefits associated with stock-based compensation.

A reconciliation between the reported Provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to Income before income taxes is as follows:

	Twenty-Six Week Period Ended
	December 29, 2021
Income tax expense at statutory rate - 21.0%	$	8.9
FICA tip tax credit	(7.6)
Stock-based compensation excess tax benefits	(0.7)
State income taxes, net of federal benefit	2.6
Other	(1.5)
Provision (benefit) for income taxes - 4.0%	$	1.7

Our effective income tax rate for the thirteen and twenty-six week periods ended December 23, 2020 was lower than the federal statutory rate due to the favorable impact from the FICA tip tax credit. The twenty-six week period ended December 23, 2020 also included the favorable impact of excess tax benefits associated with stock-based compensation.