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Income Taxes

6 Months Ended

Jun. 25, 2019

Income Taxes

Income Taxes

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(6) Income Taxes

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A reconciliation of the statutory federal income tax rate to our effective tax rate for the 13 and 26 weeks ended June 25, 2019 and June 26, 2018 is as follows:

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	13 Weeks Ended				​	26 Weeks Ended			​	​
​		June 25, 2019		June 26, 2018		​	June 25, 2019		June 26, 2018	​	​
Tax at statutory federal rate	​	21.0	%	21.0	%	​	21.0	%	21.0	%	​
State and local tax, net of federal benefit	​	3.6	​	3.5	​	​	3.6	​	3.8	​	​
FICA tip tax credit	​	(10.3)	​	(9.2)	​	​	(9.9)	​	(9.4)	​	​
Work opportunity tax credit	​	(1.5)	​	(1.6)	​	​	(1.4)	​	(1.4)	​	​
Stock compensation	​	—	​	(0.6)	​	​	(0.3)	​	(1.4)	​	​
Net income attributable to noncontrolling interests	​	(0.6)	​	(0.2)	​	​	(0.5)	​	(0.7)	​	​
Officers compensation	​	0.7	​	1.3	​	​	1.1	​	1.1	​	​
Other	​	0.8	​	1.4	​	​	0.7	​	1.2	​	​
Total	​	13.7	%	15.6	%	​	14.3	%	14.2	%	​

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Our effective tax rate decreased to 13.7% for the 13 weeks ended June 25, 2019 compared to 15.6% for the 13 weeks ended June 26, 2018. This decrease was primarily driven by higher FICA tip credits and lower non-deductible officers’ compensation partially offset by lower excess tax benefits related to our share-based compensation program. For the 26 weeks ended June 25, 2019 our effective tax rate increased to 14.3% compared to 14.2% for the 26 weeks ended June 25, 2018. This increase was primarily driven by lower excess tax benefits related to our share-based compensation program partially offset by higher FICA tip credits.

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

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