Income Taxes |
6 Months Ended |
|---|---|
Dec. 25, 2022 | |
| Income Taxes [Abstract] | |
| Income Taxes |
Note G - Income Taxes
For the
three and six months ended December 25, 2022, the Company recorded an income tax expense of $140 thousand and $232 thousand, respectively. For the three and six months ended December 26, 2021, the Company recorded an income tax expense of $4 thousand and $7 thousand,
respectively. For the three months ended December 25, 2022, the federal and state tax expense were $100 thousand and $40 thousand, respectively. For the six months ended December 25, 2022, the federal and state tax expense were $182 thousand and $50
thousand, respectively.
The Company continually reviews the realizability of its deferred tax assets, including an analysis of factors such as future taxable
income, reversal of existing taxable temporary differences, and tax planning strategies. In assessing the need for the valuation allowance, the Company considers both positive and negative evidence related to the likelihood of realization
of deferred tax assets.
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