(8) Income Taxes

9 Months Ended

Oct. 01, 2016

Income Tax Disclosure [Abstract]

(8) Income Taxes

(8)  Income Taxes

The Company has a current and non-current deferred tax asset aggregating $2,390,563 and $2,150,749 on the Company’s balance sheet at October 1, 2016 and December 26, 2015, respectively.  A valuation allowance is required to be established or maintained when it is "more likely than not" that all or a portion of deferred tax assets will not be realized. The Company believes that it will generate sufficient future taxable income to realize the tax benefits related to the remaining deferred tax assets and as such no valuation allowance has been provided against the deferred tax asset. At the end of 2015 the Company had utilized all of its net operating loss carryforwards.

The Company recorded a tax benefit of $146,440 and $177,720 for federal income taxes and a tax benefit of $50,460 and $59,280 for state income taxes during the three and nine months ended October 1, 2016, respectively.

            The Company recorded a tax expense of $5,000 and $100,520 for federal income taxes and a tax expense of $2,000 and $28,980 for state income taxes during the three and nine months ended September 26, 2015, respectively.