INCOME TAXES (Tables)

12 Months Ended

Mar. 26, 2022

Income Tax Disclosure [Abstract]

Schedule of transcat’s income before income taxes

	FY 2022		FY 2021
United States	$	10,417	$	9,187
Foreign		2,773		795
Total	$	13,190	$	9,982

Schedule of provision for income taxes

	FY 2022			FY 2021
Current Tax Provision:
Federal	$	414		$	1,449
State		240			428
Foreign		752			103
	$	1,406		$	1,980
Deferred Tax (Benefit) Provision:
Federal	$	456		$	96
State		(10	)		(22	)
Foreign		(42	)		137
	$	404		$	211
Provision for Income Taxes	$	1,810		$	2,191

Reconciliation of the Income Tax Provision

	FY 2022			FY 2021
Federal Income Tax at Statutory Rate	$	2,770		$	2,096
State Income Taxes, net of federal benefit		172			282
Foreign Taxes and Federal, State and Foreign Tax Credits		(127	)		9
Tax Impact of Equity Awards		(1,395	)		(274	)
Non-Deductible Acquisition Costs		206			-
GILTI and 78 Gross Up		161			-
Other, net		23			78
Total	$	1,810		$	2,191

Schedule of Components of the Net Deferred Tax Assets (liabilities)

	March 26, 2022			March 27, 2021
Deferred Tax Assets:
Accrued Liabilities	$	384		$	354
Lease Liabilities		2,622			2,439
Performance-Based Stock Award Grants		443			439
Inventory Reserves		100			132
Non-Qualified Deferred Compensation Plan		92			104
Post-Retirement Health Care Plans		333			506
Stock-Based Compensation		225			95
Deferred Payroll Tax – CARES Act		-			259
Capitalized Inventory Costs		158			118
Other		233			267
Total Deferred Tax Assets	$	4,590		$	4,713
Deferred Tax Liabilities:
Goodwill and Intangible Assets	$	(3,812	)	$	(1,233	)
Right of Use Assets		(2,623	)		(2,408	)
Depreciation		(4,767	)		(4,230	)
Other		(112	)		(43	)
Total Deferred Tax Liabilities	$	(11,314	)	$	(7,914	)
Net Deferred Tax Liabilities	$	(6,724	)	$	(3,201	)