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INCOME TAXES

3 Months Ended

Sep. 25, 2019

Income Tax Disclosure [Abstract]

Income Taxes

	Thirteen Week Periods Ended
	September 25, 2019			September 26, 2018
Effective income tax rate	11.3	%		17.9	%

The federal statutory tax rate for both periods was 21.0%. Our fiscal 2020 effective income tax rate for the thirteen week period ended September 25, 2019 was 11.3% due to the favorable impact of the FICA tax credit. Our fiscal 2019 effective income tax rate for the thirteen week period ended September 26, 2018 was 17.9% due to the favorable impact from the FICA tax credit, partially offset by the impact of the sale leaseback transactions. The sale leaseback transactions gains, as described in Note 3 - Leases, were recognized for tax purposes when the transaction was completed.

The effective income tax rate in the thirteen week period ended September 25, 2019 compared to the thirteen week period ended September 26, 2018 decreased 6.6%, primarily due to the impact of the sale leaseback transactions that occurred in the thirteen week period ended September 26, 2018.

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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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