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INCOME TAXES
9 Months Ended
Sep. 26, 2015
INCOME TAXES [Abstract]  
INCOME TAXES

NOTE 6 - INCOME TAXES

 

The Company's 2015 and 2014 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 Company's effective income tax rate in the three and nine months ended September 26, 2015 was 34.2% and 35.4%, respectively. The Company's effective income tax rate in the three and nine months ended September 27, 2014 was 36.0% and 34.9%, respectively.

 

Income tax payments for the three and nine months ended September 26, 2015 totaled $8.3 million and $20.6 million, respectively. Income tax payments in the three and nine months ended September 27, 2014 totaled $2.9 million and $25.4 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 2011.

 

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.