Buffalo Wild Wings 2014 Annual Report Download - page 57

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56
The provision for income taxes consisted of the following:
Fiscal Years Ended
December 28,
2014 December 29,
2013 December 30,
2012
Current:
Federal $ 37,168 26,598 22,642
State 8,036 5,592 4,285
Deferred:
Federal 799 728 1,286
State (3,294)(737)(525)
Foreign (1,357)(2,200)(1,595)
Total income tax expense $ 41,352 29,981 26,093
The following is a reconciliation of the expected federal income taxes (benefits) at the statutory rate of 35% to the
actual provision for income taxes:
Fiscal Years Ended
December 28,
2014 December 29,
2013 December 30,
2012
Expected federal income tax expense $ 47,392 35,537 29,179
State income tax expense, net of federal effect 4,399 3,145 2,433
General business credits (9,418)(8,097)(6,006)
Other, net (1,021)(604) 487
Total income tax expense $ 41,352 29,981 26,093
Deferred tax assets and liabilities are classified as current and noncurrent on the basis of the classification of the
related asset or liability for financial reporting. Deferred income taxes are provided for temporary differences between the
basis of assets and liabilities for financial reporting purposes and income tax purposes. Some historical deferred tax asset and
liability amounts for insurance reserves and prepaid expenses were reclassified from other deferred assets in this footnote to
match current year presentation. Temporary differences comprising the net deferred tax assets and liabilities on the
accompanying consolidated balance sheets are as follows: