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Income Taxes

9 Months Ended

Sep. 24, 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 39 weeks ended September 24, 2019 and September 25, 2018 is as follows:

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	13 Weeks Ended				​	39 Weeks Ended			​	​
​		September 24, 2019		September 25, 2018		​	September 24, 2019		September 25, 2018	​	​
Tax at statutory federal rate	​	21.0	%	21.0	%	​	21.0	%	21.0	%	​
State and local tax, net of federal benefit	​	3.6	​	3.8	​	​	3.6	​	3.8	​	​
FICA tip tax credit	​	(9.2)	​	(8.3)	​	​	(9.7)	​	(9.1)	​	​
Work opportunity tax credit	​	(1.5)	​	(1.9)	​	​	(1.4)	​	(1.5)	​	​
Stock compensation	​	0.1	​	(1.4)	​	​	(0.2)	​	(1.4)	​	​
Net income attributable to noncontrolling interests	​	(0.6)	​	(1.2)	​	​	(0.6)	​	(0.8)	​	​
Officers compensation	​	1.0	​	2.3	​	​	1.1	​	1.4	​	​
Other	​	0.7	​	0.8	​	​	0.8	​	1.0	​	​
Total	​	15.1	%	15.1	%	​	14.6	%	14.4	%	​

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Our effective tax rate was 15.1% for both of the 13 week periods ended September 24, 2019 and September 25, 2018. The Q3 2019 effective tax rate was unchanged compared to Q3 2018 due to lower non-deductible officers’ compensation offset by lower excess tax benefits related to our share-based compensation program. For the 39 weeks ended September 24, 2019 our effective tax rate increased to 14.6% compared to 14.4% for the 39 weeks ended September 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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