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Income Taxes
9 Months Ended
Jun. 29, 2013
Income Taxes [Abstract]  
Income Taxes

D.  INCOME TAXES

 

The Company’s continuing practice is to recognize interest and penalties related to uncertain tax positions and related matters in income tax expense. As of June 29, 2013, the Company had approximately $50,000 accrued for interest and penalties.

 

The Company’s effective tax rate differs from the federal statutory rate primarily as a result of state income taxes and tax credits.  As of June 29, 2013, the Company had gross unrecognized tax benefits of approximately $140,000, all of which, if recognized, would affect the effective tax rate.  The Company does not expect that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months.

 

The Company files income tax returns with federal and various state jurisdictions.  With few exceptions, the Company is no longer subject to state income tax examinations by tax authorities for the years before 2009. Additionally, the Internal Revenue Service has completed its examination of the Company’s U.S. Federal income tax returns filed through fiscal 2008.  

 

The Company had approximately $18.9 million and $14.2 million of refundable income taxes included in the caption “Other current assets” in the Condensed Consolidated Balance Sheets at June 29, 2013 and June 23, 2012, respectively.