XML 47 R34.htm IDEA: XBRL DOCUMENT
v3.24.4

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Sep. 28, 2024
Income Taxes [Abstract] |
Schedule of Provision for Income Taxes | The components of our provision for income taxes for our fiscal years 2024 and 2023 are as follows:
|  | (in thousands) |
|  | 2024 |  |  | 2023 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 246 |  |  | $ | 298 |
State |  |  | 305 |  |  |  | 289 |
|  |  | 551 |  |  |  | 587 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | (282 | ) |  |  | (84 | )
State |  |  | 17 |  |  |  | 146 |
|  |  | (265 | ) |  |  | 62 |
|  | $ | 286 |  |  | $ | 649 |
Schedule of Reconciliation of Income Tax | A reconciliation of income tax computed at the statutory federal rate to income tax expense is as follows:
|  | (in thousands) |
|  | 2024 |  |  | 2023 |
Tax provision at the statutory rate |  | $ | 1,173 |  |  | $ | 1,273 |
Non-controlling interests |  |  | (408 | ) |  |  | (297 | )
State income taxes, net of federal income tax |  |  | 264 |  |  |  | 343 |
FICA tip credit |  |  | (1,029 | ) |  |  | (799 | )
True up adjustment |  |  | 77 |  |  |  | 89 |
Other permanent items, net |  |  | 209 |  |  |  | 40 |
|  | $ | 286 |  |  | $ | 649 |
Schedule of Deferred Tax Assets Liabilities | The components of our deferred tax assets (liabilities) at September 28, 2024 and September 30, 2023 were as follows:
|  | (in thousands) |
Deferred tax assets: |  | 2024 |  |  | 2023 |
Reversal of aged payables |  | $ | 18 |  |  | $ | 18 |
Capitalized inventory costs |  |  | 26 |  |  |  | 28 |
Accrued bonuses |  |  | 52 |  |  |  | 66 |
Accruals for potential uninsured claims |  |  | 27 |  |  |  | 13 |
Gift cards |  |  | 247 |  |  |  | 223 |
Deferred revenue |  |  | 205 |  |  |  | 179 |
Tip credit |  |  | 914 |  |  |  | 570 |
Operating lease liabilities |  |  | 3,319 |  |  |  | 3,525 |
Limited partnership investments |  |  | 446 |  |  |  | 475 |
Interest rate swaps |  |  | 14 |  |  |  | (134 | )
Accrued limited retirement |  |  | 76 |  |  |  | 73 |
Subtotal |  | $ | 5,344 |  |  | $ | 5,036 |
Less: Valuation allowance |  |  | — |  |  |  | — |
Total net deferred tax assets |  |  | 5,344 |  |  |  | 5,036 |
|  | (in thousands) |
Deferred tax liabilities: |  | 2024 |  |  | 2023 |
Limited partnership management fees |  | $ | (680 | ) |  | $ | (873 | )
Book/tax differences in property and equipment and intangible assets |  |  | (1,901 | ) |  |  | (1,573 | )
Operating lease right of use assets |  |  | (3,152 | ) |  |  | (3,391 | )
Total deferred tax liabilities |  |  | (5,733 | ) |  |  | (5,837 | )
Net deferred tax liability |  | $ | (389 | ) |  | $ | (801 | )

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration