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Income Taxes | 6 Months Ended
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Jun. 27, 2020
Income Taxes |
L. | Income Taxes
As of June 27, 2020 and December 28, 2019, the Company had approximately $0.8 million and $0.8 million, respectively, of unrecognized income tax benefits. The Company’s practice is to classify interest and penalties related to income tax matters in income tax expense. As of June 27, 2020 and December 28, 2019, the Company had $0.2 million and $0.1 million, respectively, accrued for interest and penalties recorded in other liabilities. The Internal Revenue Service completed an examination of the 2015 consolidated corporate income tax return and issued a no change report in 2018. The Company’s state income tax returns remain subject to examination for three or four years depending on the state’s statute of limitations. The Company is not currently under any income tax audits as of June 27, 2020. In addition, the Company is generally obligated to report changes in taxable income arising from federal income tax audits. The following table provides a summary of the income tax provision for the thirteen and twenty-six weeks ended June 27, 2020 and June 29, 2019:
|  | Thirteen weeks ended |
|  | June 27, 2020 |  |  | June 29 , 2019 |
|  | (in thousands) |
Summary of income tax provision |  |  |  |  |  |  |  |
Tax provision based on net income |  | $ | 20,699 |  |  | $ | 10,499 |
Benefit of ASU 2016-09 |  |  | (2,335 | ) |  |  | (253 | )
Total income tax provision |  | $ | 18,364 |  |  | $ | 10,246 |
|  | Twenty-six weeks ended |
|  | June 27, 2020 |  |  | June 29 , 2019 |
|  | (in thousands) |
Summary of income tax provision |  |  |  |  |  |  |  |
Tax provision based on net income |  | $ | 25,704 |  |  | $ | 18,408 |
Benefit of ASU 2016-09 |  |  | (4,339 | ) |  |  | (2,028 | )
Total income tax provision |  | $ | 21,365 |  |  | $ | 16,380 |
The Company’s effective tax rate for the thirteen weeks ended June 27, 2020, decreased to 23.4% from 26.9% for the thirteen weeks ended June 29, 2019, primarily due to higher tax benefit from stock option activity recorded in accordance with ASU 2016-09. The Company’s effective tax rate for the twenty-six weeks ended June 27, 2020, decreased to 21.4% from 24.1% for the twenty-six weeks ended June 29, 2019, also primarily due to higher tax benefit from stock option activity recorded in accordance with ASU 2016-09.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
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