Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.23.1
Income Taxes
3 Months Ended
Apr. 01, 2023
Income Tax Disclosure [Abstract]  
Income Taxes

Note 10: Income Taxes

The Company recorded an income tax benefit from continuing operations of approximately $227,000 and $0 for the 13 weeks ended April 1, 2023 and April 2, 2022, respectively, and an income tax expense from discontinued operations of approximately $3.2 million and $3,000 for the 13 weeks ended April 1, 2023 and April 2, 2022, respectively. The Company’s overall effective tax rate was 22.9% and 0.2% for the 13 weeks ended April 1, 2023 and April 2, 2022, respectively. The effective tax rates and related provisional tax amounts vary from the U.S. federal statutory rate primarily due to state taxes and certain non-deductible expenses.