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INCOME TAXES
3 Months Ended
Mar. 30, 2013
INCOME TAXES [Abstract]  
INCOME TAXES

NOTE 6 - INCOME TAXES

 

The Company's 2013 and 2012 effective tax rates differ from the statutory federal tax rate due principally to state income taxes partially offset by tax benefits related to the American Jobs Creation Act of 2004. The effective income tax rates for the three months ended March 30, 2013 and March 31, 2012 were 36.5% and 37.0%, respectively.

 

Income tax payments in the three months ended March 30, 2013 and March 31, 2012 totaled $0.4 million and $0.3 million, respectively.

 

The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2010.

 

The Company does not believe it has included any "uncertain tax positions" in its federal income tax return or any of the state income tax returns it is currently filing. The Company has made an evaluation of the potential impact of additional state taxes being assessed by jurisdictions in which the Company does not currently consider itself liable. The Company does not anticipate that such additional taxes, if any, would result in a material change to its financial position.