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Note 14 - Income Tax Expense (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Three Months Ended March 31,
(in thousands)		2020				2019
Income Before Income Taxes		$	29,906			$	31,952
Tax Computed at Company’s Net Composite Federal and State Statutory Rate (26%)			7,776				8,308
Increases (Decreases) in Tax from:
Differences Reversing in Excess of Federal Rates			(1,229	)			(983	)
Excess Tax Deduction – Equity Method Stock Awards			(402	)			(827	)
Allowance for Funds Used During Construction – Equity			(312	)			(86	)
North Dakota Wind Tax Credit Amortization – Net of Federal Taxes			(258	)			(258	)
Research and Development and Other Tax Credits			(54	)			(188	)
Corporate Owned Life Insurance			207				(409	)
Other Items – Net			(90	)			71
Income Tax Expense		$	5,638			$	5,628
Effective Income Tax Rate			18.9	%			17.6	%

Summary of Income Tax Contingencies [Table Text Block]

(in thousands)		2020				2019
Balance on January 1		$	1,488			$	1,282
Increases Related to Tax Positions for Current Year			41				38
Uncertain Positions Resolved During Year			-				-
Balance on March 31		$	1,529			$	1,320

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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