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Note 5 - Income Taxes
8 Months Ended
Jul. 08, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
Note 5 – Income Taxes:
 
The Company expects its effective tax rate for the 2016 fiscal year to be different from the federal statutory rate due to state taxes. The effective tax rate for the twelve week period ended July 8, 2016 was 21.2% to cover federal and state taxes.
 
We recorded an income tax provision of $2,697 for the thirty-six week period ended July 8, 2016, related to federal and state taxes, based on the Company's expected annual effective tax rate. Our provision for the thirty-six week period ended July 10, 2015 was $142. The effective income tax rate differed from the applicable mixed statutory rate of approximately 37.7% primarily due to domestic production activities deductions under IRC Section 199.
 
As of July 8, 2016, the Company did not have any outstanding federal or state net operating loss carryforwards.
 
Our federal income tax returns are open to audit under the statute of limitations for the fiscal years ended on or about October 31, 2012 through 2014. We are subject to income tax in California and various other state taxing jurisdictions. Our California state income tax returns are open to audit under the statute of limitations for the fiscal years ended on or about October 31, 2011 through 2014.