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10. Income Taxes
3 Months Ended
May 03, 2015
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
10.         Income Taxes

We recorded income tax expense of $1.9 million for the fiscal 2016 first quarter compared to $1.5 million for the comparable prior year period.  The effective tax rates for the fiscal 2016 and 2015 first quarters were 35.4% and 34.6%, respectively.  Our effective tax rate was higher in the fiscal 2016 first quarter as a result of a higher federal rate due to higher taxable income.

The net unrecognized tax benefits as of May 3, 2015 and February 1, 2015, which, if recognized, would affect our effective tax rate are $427,000 and $426,000, respectively.

Our Federal tax returns for the fiscal years 2013 through 2015 remain subject to examination by federal taxing authorities. Our state tax returns for the fiscal years ending 2012 through fiscal 2015 remain subject to examination by state taxing authorities.  An examination of our fiscal year 2013 Federal tax return is currently underway by the Internal Revenue Service. In addition, an examination of our North Carolina state tax returns for fiscal years 2012 and 2013 is also underway by the North Carolina Department of Revenue.