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Note 6 - Income Taxes | 6 Months Ended
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Nov. 26, 2017
Notes to Financial Statements |
Income Tax Disclosure [Text Block] |
6 . | Income Taxes
The provision for income taxes for the six months ended November 26, 2017 was $1.5 million. The effective tax rate for the six months ended November 26, 2017 and November 27, 2016 was 36% and 34%, respectively . The effective tax rate for the six months ended November 26, 2017 was higher than the statutory federal income tax rate of 35% primarily due to state income taxes and incentive stock option expense; partially offset by the domestic manufacturing deduction and research and development credits. There are no significant discrete tax benefits included in the effective tax rate for the six months ended November 26, 2017. As of November 26, 2017 and May 28, 2017, the Company had unrecognized tax benefits of approximately $535, 000 and $537 ,000, respectively. Included in the balance of unrecognized tax benefits as of November 26, 2017 and May 28, 2017 is approximately $433 ,000 and $419,000, respectively, of tax benefits that, if recognized, would result in an adjustment to the Company’s effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly within the next twelve months. The Company has elected to classify interest and penalties related to uncertain tax positions as a component of its provision for income taxes. The Company has accrued an insignificant amount of interest and penalties relating to the income tax on the unrecognized tax benefits as of November 26, 2017 and May 28, 2017 . Due to tax attribute carryforwards, the Company is subject to examination for tax years 2013 forward for U.S. tax purposes. The Company is also subject to examination in various state jurisdictions for tax years 2012 forward, none of which were individually material. Our estimated annual effective tax rate may be subject to further uncertainty d ue to the recent changes in U.S. tax rates and tax laws.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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