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Income Taxes | 12 Months Ended
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Jan. 31, 2016
Income Taxes [Abstract] |
Income Taxes | 8. INCOME TAXES On November 25, 2015, the Company’s “S” corporation status terminated and the Company became subject to corporate-level federal and state income taxes at prevailing corporate rates. The components of income tax expense for the year ended January 31, 2016 were as follows:
(in thousands) |  |  |
Current: |  |  |
Federal |  | $ | 1,114
State |  |  | 194
|  |  | 1,308
Deferred: |  |  |
Federal |  |  | 100
State |  |  | (69)
|  |  | 31
Total income tax expense |  | $ | 1,339
A reconciliation of income tax expense to the amount computed at the federal statutory rate is as follows for the year ended January 31, 2016:
(in thousands) |  |  |  |  |  |
Federal taxes at statutory rate |  | $ | 10,073 |  | 35.0 | %
Tax effect of earnings not subject to federal income tax due to "S" corporation status |  |  | (8,952) |  | (31.1) | %
State and local income taxes, net of federal benefit |  |  | 124 |  | 0.4 | %
Impact of change in tax status |  |  | 94 |  | 0.3 | %
Total income tax expense |  | $ | 1,339 |  | 4.6 | %
As a result of the conversion to a “C” corporation, the Company recorded an increase in net deferred tax liabilities of $0.1 million and a one-time deferred tax expense of $0.1 million during the fourth quarter of fiscal 2015. Deferred income taxes reflect the net tax effects of temporary differences between U.S. GAAP and tax bases of assets and liabilities. Significant components of deferred tax assets and liabilities as of January 31, 2016, were as follows:
(in thousands) |  |  |
Deferred tax assets: |  |  |
Returns allowance |  | $ | 485
Uniform capitalization |  |  | 597
Inventory |  |  | 548
Deferred rent |  |  | 479
Accruals |  |  | 975
Total deferred tax assets |  |  | 3,084
Deferred tax liabilities: |  |  |
Property and equipment |  |  | 1,283
Stock-based compensation |  |  | 686
Prepaid expenses |  |  | 1,026
Goodwill and intangibles |  |  | 120
Total deferred tax liabilities |  |  | 3,115
Net deferred tax liabilities |  | $ | 31
Uncertain Tax Positions As of January 31, 2016 and February 1, 2015, there were no material unrecognized tax benefits. The Company does not anticipate that there will be a material change in the balance of the unrecognized tax benefits in the next 12 months. Any interest and penalties related to uncertain tax positions are recorded in income tax expense. There were no amounts recorded as tax expense for interest or penalties for the years ended January 31, 2016, February 1, 2015 and February 2, 2014. The Company files income tax returns in the United States federal jurisdiction and in various state jurisdictions. Federal tax returns for tax years beginning January 1, 2012, and state tax returns for tax years beginning January 1, 2011, are open for examination.

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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 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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