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Subsequent Events
3 Months Ended
Dec. 02, 2017
Subsequent Events

Note 10. Subsequent Event



On December 22, 2017, President Trump signed into law the “Tax Cut and Jobs Act” (the “Act”).  The Act lowers the corporate tax rate for C corporations from 35% to 21% effective January 1, 2018.  The Company expects to recognize a net one-time tax benefit in its second quarter of fiscal 2018 for the re-valuation of its net deferred tax liabilities primarily related to the lower Federal corporate tax rate, partially offset by the lower Federal benefit for state taxes and the change from a worldwide tax system to a territorial tax system.