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Income Taxes
6 Months Ended
Nov. 24, 2019
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The provision for income taxes for the six months ended November 24, 2019 and November 25, 2018 was a benefit of $2.5 million and an expense of $0.3 million, respectively. The effective tax rate for the six months ended November 24, 2019 and November 25, 2018 was 18% and 25%, respectively. The effective tax rate for the six months ended November 24, 2019 was lower than the statutory federal income tax rate of 21% primarily due to the impact of state taxes and stock-based compensation, partially offset by federal & state R&D Credits.
As of November 24, 2019 and May 26, 2019, the Company had unrecognized tax benefits of $0.7 million and $0.6 million, respectively. Included in the balance of unrecognized tax benefits as of November 24, 2019 and May 26, 2019 is $0.6 million and $0.5 million, 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 24, 2019 and May 26, 2019.
Due to tax attribute carryforwards, the Company is subject to examination for tax years 2016 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.