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INCOME TAXES | 12 Months Ended
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Jan. 01, 2023
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES At January 1, 2023, federal income tax receivable of $1.7 million is included in Other current assets from continuing operations, see “Note 5 - Other Current Assets,” and state income tax payable of $0.3 million is included in Income taxes payable from continuing operations. At December 26, 2021, federal and state income tax payable of $0.4 million is included in Income taxes payable from continuing operations. The Company's income tax expense for the fiscal years are comprised of the following:
|  | 2022 |  | 2021 |  | 2020
Current federal income tax |  | $ | 589,528 |  |  | $ | 594,483 |  |  | $ | 752,397 |
Current state income tax |  | 716,942 |  |  | 765,716 |  |  | 919,966 |
Deferred income tax (benefit) |  | 2,352,601 |  |  | 1,279,388 |  |  | (2,413,019) |
Income tax expense (benefit) from continuing operations |  | 3,659,071 |  |  | 2,639,587 |  |  | (740,656) |
Income tax expense from discontinued operations |  | 4,810,362 |  |  | 918,613 |  |  | 1,253,748 |
Income tax expense |  | $ | 8,469,433 |  |  | $ | 3,558,200 |  |  | $ | 513,092 |
Significant components of the Company’s deferred income taxes from continuing operations are as follows at:
|  |  | January 1, 2023 |  | December 26, 2021
Deferred tax assets: |  |  |  |
| Allowance for credit losses |  | $ | 127,430 |  |  | $ | 103,609 |
| Goodwill and intangible assets |  | 786,455 |  |  | 996,763 |
| Accrued payroll and expenses | 404,050 |  |  | 207,600 |
| Contingent consideration |  | 271,130 |  |  | 535,687 |
| Other long-term liabilities (deferred employer FICA) | — |  |  | 1,843,081 |
| Share-based compensation |  | 503,961 |  |  | 452,029 |
| Net operating loss carry forward |  | 984,902 |  |  | 1,356,294 |
Deferred tax liabilities: |  |  |  |
| Prepaid expenses and other current assets |  | (579,593) |  |  | (579,027) |
| Fixed assets |  | (302,651) |  |  | (367,751) |
Deferred income taxes, net |  | $ | 2,195,684 |  |  | $ | 4,548,285 |
The income tax provision, reconciled to the tax computed at the statutory federal rate, is as follows:
|  | 2022 |  | 2021 |  | 2020
Tax expense (benefit) at federal statutory rate |  | $ | 3,133,256 |  | 21.0 | % |  | $ | 2,750,467 |  | 21.0 | % |  | $ | (590,634) |  | 21.0 | %
State income taxes, net of federal benefit |  | 794,554 |  | 5.3 | % |  | 1,100,072 |  | 8.4 | % |  | 96,269 |  | (3.4) | %
Equity, permanent differences and other |  | 178,493 |  | 1.2 | % |  | (503,123) |  | (3.9) | % |  | 239,020 |  | (8.5) | %
Work Opportunity Tax Credit, net |  | (447,232) |  | (3.0) | % |  | (707,829) |  | (5.4) | % |  | (485,311) |  | 17.3 | %
Income tax expense (benefit) from continuing operations |  | 3,659,071 |  | 24.5 | % |  | 2,639,587 |  | 20.1 | % |  | (740,656) |  | 26.4 | %
Income tax expense from discontinued operations |  | 4,810,362 |  | 24.5 | % |  | 918,613 |  | 20.1 | % |  | 1,253,748 |  | 26.4 | %
Income tax expense |  | $ | 8,469,433 |  | 24.5 | % |  | $ | 3,558,200 |  | 20.1 | % |  | $ | 513,092 |  | 26.4 | %

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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