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Note 14 - Income Taxes
3 Months Ended
Jul. 03, 2021
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

14.

Income Taxes

 

The effective tax rate was 24.0% and 23.4% for the three month period ended July 3, 2021 and June 27, 2020 respectively. In fiscal 2021, the effective tax rate was decreased by 1.0% as a result of the accrual of interest income related to a federal refund for the NOL carryback claim filed as a result of the CARES Act. Because a similar amount of interest has not been accrued for in the current year, the rate is effectively increased by 1.0% in fiscal 2022 when compared to the same period of the prior year.  This increase was offset by various insignificant decreases including 0.2% from permanent differences and 0.2% from state income tax rate changes.