El Pollo Loco 2016 Annual Report Download - page 75

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EL POLLO LOCO HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
8. OTHER ACCRUED EXPENSES AND CURRENT LIABILITIES
Otheraccruedexpensesandcurrentliabilitiesconsistofthefollowing(inthousands):
December 30, 2015 December 31, 2014
Accruedsalesandpropertytaxes  $ 3,480   $ 3,918
Incometaxreceivableagreementpayable   7,609    4,170
Giftcardliability   1,810    1,535
Other   3,227    3,390
Totalotheraccruedexpensesandcurrentliabilities  $ 16,126   $ 13,013
9. OTHER NONCURRENT LIABILITIES
Othernoncurrentliabilitiesconsistofthefollowing(inthousands):
December 30, 2015 December 31, 2014
Deferredrent  $ 6,611  $ 6,204
Incometaxreceivableagreementpayable   33,930   37,213
Other   2,826   2,730
Totalnoncurrentliabilities  $ 43,367  $ 46,147
10. INCOME TAXES
Theprovisionforincometaxesisbasedonthefollowingcomponents(inthousands):
For the Years Ended
December 30,
2015
December 31,
2014
December 25,
2013
Currentincometaxes:      
Federal  $ —  $ (1)  $ —
State   188   29   30
Totalcurrent   188   28   30
Deferredincometaxes:      
Federal   8,871   (44,137)   1,037
State   6,378   (22,864)   334
Totaldeferred   15,249   (67,001)   1,371
Chargeinlieuoftax(attributabletostockoptions)   5,420   3,965   —
Taxprovisionforincometaxes  $ 20,857  $ (63,008)  $ 1,401
Theprovisionforincometaxesdiffersfromtheamountcomputedbyapplyingthefederalincometaxrateasfollows:
For the Years Ended
December 30,
2015
December 31,
2014
December 25,
2013
Statutoryfederalincometaxrateof35%appliedtoearnings
beforeincometaxesandextraordinaryitems   35.0%   35.0%   35.0%
Statetaxbenefit(netoffederalbenefit)   5.1   (5.7)   5.4
Statetaxcredits   (0.6)   32.7   —
TRAexpense   0.1   (70.6)   —
Changeinvaluationallowance   6.5   317.4   (43.4)
Other   0.3   (1.7)   (6.5)
Total   46.4%   307.1%   (9.5)%
Deferredincometaxassetsandliabilitiesarerecordedfordifferencesbetweenthefinancialstatementandtaxbasisoftheassetsandliabilitiesthatwillresultin
taxableordeductibleamountsinthefuturebasedonenactedlawsandratesapplicabletotheperiodsinwhich
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