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(9) Income Taxes (Tables)
12 Months Ended
Dec. 26, 2020
Income Tax Disclosure [Abstract]  
Components of income tax expense (benefit) for each year
     2020      2019  
Current:              
Federal  $(39,878)   $(33,874)
State   456    456 
              
Current income tax provision (benefit):   (39,422)    (33,418)
                
Deferred:          
Federal   33,874   (6,387)
State   (3,000)   45,261 
                
Deferred income tax provision (benefit), net   30,874   38,874 
                
Total  $(8,548)  $5,456 
                
                
Deferred tax assets
     December 26, 2020      December 28, 2019  
Deferred Tax Assets:          
Net operating loss          
carryforwards  $746,397   $884,508 
Stock compensation   540,281    543,614 
Credit carryforwards   1,288,897    1,317,445 
Inventory   116,153    316,943 
Accrued liabilities   22,140    18,920 
Depreciation   250,093    237,449 
Other   2,732    2,732 
Gross deferred tax assets   2,966,693    3,321,611 
Valuation allowance   (2,849,693)   (3,173,738)
Net deferred tax assets  $117,000   $147,873 

 

At December 26, 2020 and December 28, 2019 the Company had net operating loss carryforwards of approximately $2,754,601 and $3,278,463, respectively, available to offset future income for U.S. Federal income tax purposes. These net operating loss carryforwards occurred over several years, which begin to expire in the year ended 12/31/2036.

 

The Company established a valuation reserve as it is judged more likely than not that all or a portion of the tax credits will not be used before they expire. This decision was initially reached in 2018 after giving greater weight to its losses over the last three years compared with its forecast of the future.

A summary of the change in the deferred tax asset is as follows:

     2020      2019  
               
Balance at beginning of year  $3,321,611   $3,150,155 
           
Deferred tax benefit (provision)   (354,918)   171,456 
Valuation allowance   (2,849,693)   (3,173,738)
Balance at end of year  $117,000   $147,873 
Income tax at federal statutory income tax rate of 21 percent
     2020      2019  
               
Tax at statutory rate  $188,899   $(125,527)
State tax, net          
of federal benefit   360    360 
           
Net operating loss and          
credit carryforwards   33,873    153,204 
           
Valuation allowance   (324,045)   210,836 
           
Other   92,365    (233,417)
           
Total  $(8,548)  $5,456