XML 62 R19.htm IDEA: XBRL DOCUMENT
v2.4.0.6

INCOME TAXES | 12 Months Ended
--- | ---
Sep. 29, 2012
Income Tax Disclosure [Text Block] |
12. | INCOME TAXES
| The provision for income taxes attributable to continuing operations consists of the following:
|  | Year Ended |
|  | September 29, 2012 |  | October 1, 2011 |
|  | (In thousands) |
Current provision: |  |  |  |  |  |  |
Federal |  | $ | 469 |  | $ | 848 |
State and local |  |  | 251 |  |  | 907 |
|  |  | 720 |  |  | 1,755 |
Deferred provision: |  |  |  |  |  |  |
Federal |  |  | 3,140 |  |  | 240 |
State and local |  |  | (847 | ) |  | (522 | )
|  |  | 2,293 |  |  | (282 | )
|  | $ | 3,013 |  | $ | 1,473 |
| The effective tax rate differs from the U.S. income tax rate as follows:
|  | Year Ended |
|  | September 29, 2012 |  | October 1, 2011 |
|  | (In thousands) |
Provision at Federal statutory rate (34% in 2012 and 2011) |  | $ | 3,555 |  | $ | 2,124 |
State and local income taxes, net of tax benefits |  |  | 312 |  |  | 109 |
Tax credits |  |  | (565 | ) |  | (503 | )
Income attributable to non-controlling interest |  |  | (576 | ) |  | (302 | )
Other |  |  | 287 |  |  | 45 |
|  | $ | 3,013 |  | $ | 1,473 |
| Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
|  | September 29, 2012 |  | October 1, 2011 |
|  | (In thousands) |
Long-term deferred tax assets (liabilities): |  |  |  |  |  |  |
State net operating loss carryforwards |  | $ | 3,357 |  | $ | 2,607 |
Operating lease deferred credits |  |  | 1,069 |  |  | 1,228 |
Depreciation and amortization |  |  | (358 | ) |  | 538 |
Deferred compensation |  |  | 1,431 |  |  | 1,172 |
Partnership investments |  |  | (413 | ) |  | 1,948 |
Other |  |  | 108 |  |  | 122 |
Total long-term deferred tax assets |  |  | 5,194 |  |  | 7,615 |
Valuation allowance |  |  | (234 | ) |  | (362 | )
Total net deferred tax assets |  | $ | 4,960 |  | $ | 7,253 |
| In assessing the realizability of deferred tax assets, Management considers whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. The deferred tax valuation allowance of $234,000 and $362,000 as of September 29, 2012 and October 1, 2011, respectively, was attributable to state and local net operating loss carryforwards which are not realizable on a more-likely-than-not basis.
| A reconciliation of the beginning and ending amount of unrecognized tax benefits excluding interest and penalties is as follows:
|  | September 29, 2012 |  | October 1, 2011 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 209 |  | $ | 209 |
Reductions due to settlements with taxing authorities |  |  | - |  |  | - |
Reductions as a result of a lapse of the statute of limitations |  |  | - |  |  | - |
Interest accrued during the current year |  |  | - |  |  | - |
Balance at end of year |  | $ | 209 |  | $ | 209 |
| The entire amount of unrecognized tax benefits if recognized would reduce our annual effective tax rate. As of September 29, 2012, the Company accrued approximately $108,000 of interest and penalties. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. Inherent uncertainties exist in estimates of tax contingencies due to changes in tax law, both legislated and concluded through the various jurisdictions’ tax court systems.
| The Company files tax returns in the U.S. and various state and local jurisdictions with varying statutes of limitations. An examination of the Company’s Federal tax returns for the fiscal years 2008 and 2009 was recently completed by the Internal Revenue Service and did not result in a material adjustment to the Company’s consolidated financial position or results of operations. The 2010 and 2011 fiscal years remain subject to examination by the Internal Revenue Service. The 2008 through 2011 fiscal years generally remain subject to examination by most state and local tax authorities.

X
- 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 Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: 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=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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 Reference 7: 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 8: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration