|6 Months Ended|
Apr. 01, 2023
|Income Tax Disclosure [Abstract]|
Note 10—Income Taxes
Our effective income tax rate was a benefit of 25.4% for the six months ended April 1, 2023, compared to 29.0% for the six months ended April 2, 2022. The differences between the statutory rate and our effective rate for the six months ended April 1, 2023 and April 2, 2022 were primarily attributable to state taxes. Our effective income tax rate can fluctuate due to factors including valuation allowances, changes in tax laws, federal and state audits, and the impact of other discrete items.
In August 2022, the Inflation Reduction Act of 2022 was signed into law and contains provisions effective January 1, 2023 which were not material to the Company’s income tax provision.
No definition available.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef