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Income Taxes | 12 Months Ended
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Dec. 31, 2021
Income Taxes [Abstract] |
Income Taxes | Note 7, Income Taxes: The provision for income taxes for the years ended December 31 consist of the following:
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | 22,832 |  |  | $ | 16,831 |  |  | $ | 7,701 |
State |  |  | 4,666 |  |  |  | 3,210 |  |  |  | 1,849 |
|  |  | 27,498 |  |  |  | 20,041 |  |  |  | 9,550 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 589 |  |  |  | (1,217 | ) |  |  | (2,217 | )
State |  |  | (355 | ) |  |  | (1,241 | ) |  |  | (474 | )
|  |  | 234 |  |  |  | (2,458 | ) |  |  | (2,691 | )
Total income tax expense |  | $ | 27,732 |  |  | $ | 17,583 |  |  | $ | 6,859 |
Cares Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary suspension of certain payment requirements for the employer-paid portion of social security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. We elected to defer the employer-paid portion of social security taxes beginning with pay dates on and after April 1, 2020 and through December 31, 2020 and have deferred $1,607,000 which is included in accrued liabilities. During 2020, we recorded $2,301,000 for refundable employee retention credits reducing selling, general and administrative expenses. We also benefited from the technical correction for qualified leasehold improvements eligible for 100% tax bonus depreciation which reduced our 2019 income tax liability by approximately $2,053,000 and we adjusted our deferred income taxes and income taxes receivable accordingly. The differences between income tax expense in the accompanying Consolidated Financial Statements and the amount computed by applying the statutory Federal income tax rate are as follows:
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Statutory rates applied to income before income taxes |  | $ | 24,949 |  |  | $ | 16,164 |  |  | $ | 6,032 |
State income taxes, net of Federal tax benefit |  |  | 3,836 |  |  |  | 2,057 |  |  |  | 1,149 |
Net permanent differences |  |  | (498 | ) |  |  | 520 |  |  |  | 228 |
Other |  |  | 78 |  |  |  | 48 |  |  |  | (128 | )
Leases |  |  | — |  |  |  | — |  |  |  | (418 | )
Federal tax credits |  |  | (152 | ) |  |  | — |  |  |  | — |
State tax credits |  |  | (481 | ) |  |  | (1,206 | ) |  |  | (4 | )
|  | $ | 27,732 |  |  | $ | 17,583 |  |  | $ | 6,859 |
Our effective tax rate differs from the federal statutory rate primarily due to state income taxes. In 2020 we completed the computations and recorded in the fourth quarter, state quality jobs credits of $1,527,000 generated in 2018, 2019, and 2020. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The amounts in the following table are grouped based on broad categories of items that generate the deferred tax assets and liabilities.
(In thousands) |  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |
Property and equipment |  | $ | 6,944 |  |  | $ | 8,868 |
Lease liabilities |  |  | 57,588 |  |  |  | 58,417 |
Accrued liabilities |  |  | 11,306 |  |  |  | 9,885 |
Retirement benefits |  |  | 573 |  |  |  | 662 |
State tax credits |  |  | 2,087 |  |  |  | 943 |
Other |  |  | 676 |  |  |  | 660 |
Total deferred tax assets |  |  | 79,174 |  |  |  | 79,435 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Inventory related |  |  | 6,389 |  |  |  | 7,135 |
Right-of-use lease assets |  |  | 55,816 |  |  |  | 56,032 |
Other |  |  | 594 |  |  |  | 454 |
Total deferred tax liabilities |  |  | 62,799 |  |  |  | 63,621 |
Net deferred tax assets |  | $ | 16,375 |  |  | $ | 15,814 |
We review our deferred tax assets to determine the need for a valuation allowance. Based on evidence, we concluded that it is more-likely-than-not that our deferred tax assets will be realized and therefore a valuation allowance is not required. We file income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. With respect to U.S. federal, state and local jurisdictions, with limited exceptions, we are no longer subject to income tax audits for years before 2018. Uncertain Tax Positions Interest and penalties associated with uncertain tax positions, if any, are recognized as components of income tax expense. No amounts for uncertain tax positions were recorded for the years currently open under statute of limitations.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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