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Income Taxes (Tables) | 12 Months Ended
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Mar. 28, 2020
Income Taxes |
Schedule of income tax expense (benefit) | Income tax expense consisted of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended | ​
​ | ​ | March 28, | ​ | March 30, | ​ | March 31, | ​
(in thousands) |  | 2020 |  | 2019 |  | 2018 |
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 7,619 | ​ | $ | 2,728 | ​ | $ | (104) | ​
State | ​ |  | 2,150 | ​ |  | 2,057 | ​ |  | 544 | ​
Foreign | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Total current | ​ |  | 9,769 | ​ |  | 4,785 | ​ |  | 440 | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 3,149 | ​ |  | 4,056 | ​ |  | 622 | ​
State | ​ |  | (554) | ​ |  | 133 | ​ |  | 1,237 | ​
Foreign | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​
Total deferred | ​ |  | 2,595 | ​ |  | 4,189 | ​ |  | 1,860 | ​
Total income tax expense | ​ | $ | 12,364 | ​ | $ | 8,974 | ​ | $ | 2,300 | ​
​
Schedule of reconciliation between the Company's effective tax rate on income from operations and the statutory tax rate | The reconciliation between the Company’s effective tax rate on income from operations and the statutory tax rate is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended | ​
​ | ​ | March 28, | ​ | March 30, | ​ | March 31, | ​
​ |  | 2020 |  | 2019 |  | 2018 |
Expected provision at statutory U.S. federal tax rate |  | 21.0 | % | 21.0 | % | 30.8 | %
State and local income taxes, net of federal tax benefit |  | 3.6 | ​ | 3.9 | ​ | 3.3 | ​
Change in state rate |  | — | ​ | — | ​ | (0.2) | ​
Federal rate change | ​ | — | ​ | — | ​ | (22.4) | ​
Permanent items | ​ | 0.2 | ​ | 0.3 | ​ | 0.3 | ​
Excess tax benefit of stock-based compensation | ​ | (3.5) | ​ | (7.6) | ​ | (5.7) | ​
IRC Section 162(M) | ​ | 0.9 | ​ | 0.6 | ​ | 0.8 | ​
Valuation allowance | ​ | (0.7) | ​ | (0.1) | ​ | 0.1 | ​
Other |  | (1.0) | ​ | 0.6 | ​ | 0.4 | ​
Effective tax rate |  | 20.5 | % | 18.7 | % | 7.4 | %
Schedule of significant components of the Company's net deferred tax assets (liabilities) | Deferred taxes reflect the net tax effects of the temporary differences between the carrying amount of assets and liabilities for financial reporting and the amount used for income tax purposes. Significant components of the Company’s net deferred tax liabilities as of March 28, 2020 and March 30, 2019 consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 28 |  | March 30, |
​ |  | 2020 |  | 2019 |
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
State taxes | ​ | $ | 266 | ​ | $ | 129 | ​
Accrued liabilities | ​ |  | 2,053 | ​ |  | 2,500 | ​
Award program liabilities | ​ |  | 220 | ​ |  | 322 | ​
Deferred revenue | ​ |  | 1,959 | ​ |  | 1,457 | ​
Inventory | ​ |  | 3,783 | ​ |  | 3,163 | ​
Stock options | ​ |  | 1,249 | ​ |  | 1,261 | ​
Net operating loss carryforward | ​ | ​ | 826 | ​ | ​ | 1,280 | ​
Long-term lease liabilities | ​ | ​ | 42,554 | ​ | ​ | — | ​
Other, net | ​ |  | 1,267 | ​ |  | 1,181 | ​
Total deferred tax assets | ​ |  | 54,177 | ​ |  | 11,293 | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ |  | (31,346) | ​ |  | (27,459) | ​
Prepaid expenses | ​ |  | (313) | ​ |  | (398) | ​
Right-of-use assets | ​ | ​ | (42,319) | ​ | ​ | — | ​
Total deferred tax liabilities | ​ |  | (73,978) | ​ |  | (27,857) | ​
Valuation allowance | ​ | ​ | — | ​ | ​ | (638) | ​
Net deferred tax liabilities | ​ | $ | (19,801) | ​ | $ | (17,202) | ​
​

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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