Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 921

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 13
Chunk 921
---
    2025
     
    $
    38

    2026
     
    $
    38

    2027
     
    $
              39

    2028
     
    $
    39

    2029-2033
     
    $
    191

401(K) Plan for Sales, Administrative, Supervisory
and Certain Other Employees

During the fiscal year ended
November 3, 2006, we implemented a qualified 401(K) retirement plan (the “401K Plan”) for our sales, administrative, supervisory,
and certain other employees. During fiscal years 2024 and 2023, we made total employer contributions to the 401K Plan in the amounts of
$783 and $887, respectively.

NOTE 4 - Income Taxes:

The (benefit on) provision
for income taxes include the following:

Schedule of Provision (Benefit) for Taxes on Income 

    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    Current: 

    Federal 
    $(1,163) 
    $1,660 
  
    State 
     1,196  
     (8)
  
    Current tax expense benefit 
     33  
     1,652 
  
    Deferred: 

    Federal 
     (1,222) 
     (530)
  
    State 
     (122) 
     (101)
  
    Deferred tax expense benefit 
     (1,344) 
     (631)
  
    Total (benefit on) provision for income taxes 
    $(1,311) 
    $1,021 

     39 

The total tax benefit differs
from the expected amount computed by applying the statutory federal income tax rate to income before income taxes as follows:

Schedule of Tax Provision Differs from Statutory Federal Income Tax Rate 

    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    (Benefit on) provision for federal income taxes at the applicable statutory rate 
    $(985) 
    $944 
  
    Increase (decrease) in provision resulting from state income taxes, net of federal income tax benefit 
     (16)