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INCOME TAXES

9 Months Ended

Sep. 27, 2014

H.	INCOME TAXES

Effective tax rates differ from statutory federal income tax rates, primarily due to provisions for state and local income taxes and permanent tax differences. Our effective tax rate was 35.3% in the third quarter of 2014 compared to 36.2% for same period of 2013. Our effective tax rate was 36.4% in the first nine months of 2014 compared to 35.7% for the same period of 2013. The increase in our effective tax rate in the first nine months of 2014 was primarily due to research and development and certain other tax credits totaling approximately $500,000 relating to 2012 that were recorded in 2013. These tax credits were enacted in the first quarter of 2013, retroactive to the beginning of 2012.

- 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.

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