Income Taxes

6 Months Ended

Jun. 29, 2024

Income Tax Disclosure [Abstract]

Income Taxes

J. Income Taxes

The following table provides a summary of the income tax provision for the thirteen weeks and twenty-six weeks ended June 29, 2024 and July 1, 2023:

	Thirteen weeks ended		Twenty-six weeks ended
	June 29, 2024	July 1, 2023	June 29, 2024	July 1, 2023
Effective tax rate	28.6%	27.5%	29.5%	27.5%

The increase in the tax rate for the thirteen and twenty-six weeks ended June 29, 2024 as compared to the thirteen and twenty-six weeks ended July 1, 2023 is primarily due to an increase in non-deductible compensation.


As of both June 29, 2024 and December 30, 2023, the Company had approximately $0.3 million of unrecognized income tax benefits.


The Company’s practice is to classify interest and penalties related to income tax matters in income tax expense. As of June 29, 2024 and December 30, 2023, the Company had approximately $0.2 million accrued for interest and penalties recorded in other liabilities.


The Internal Revenue Service completed an examination of the 2015 consolidated corporate income tax return and issued a no change

report in 2018. The Company’s state income tax returns remain subject to examination for three or four years depending on the state’s statute of limitations. The Company is not currently under any income tax audits as of June 29, 2024.