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Note 10 - Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Years Ended December 31,
		2019				2018				2017
Current
Federal		$	2,920			$	1,772			$	3,117
State			185				439				551
			3,105				2,211				3,668
Deferred
Federal			485				1,917				(1,091	)
State			306				(36	)			72
			791				1,881				(1,019	)
Total income tax provision		$	3,896			$	4,092			$	2,649

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		December 31,
		2019				2018
Deferred tax assets:
Reserves		$	362			$	367
Inventory capitalization			396				421
Compensation programs			578				447
Retirement liability			-				2
Equity-based compensation			403				290
Lease liability			795				11
Intangible assets			73				141
State tax credits, net of federal impact			274				257
Gross deferred tax assets			2,881				1,936
Valuation allowance			(136	)			-
Net deferred tax assets			2,745				1,936
Deferred tax liabilities:
Excess of book over tax basis of fixed assets			(4,877	)			(4,668	)
Goodwill			(2,008	)			(1,397	)
Right of use asset			(781	)			-
Total deferred tax liabilities			(7,666	)			(6,065	)
Net long-term deferred tax liabilities		$	(4,921	)		$	(4,129	)

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

		Years Ended December 31,
		2019				2018				2017
Computed “expected” tax rate			21.0	%			21.0	%			34.0	%
Increase (decrease) in income taxes resulting from:
State taxes, net of federal tax benefit			1.8				2.8				3.5
Meals and entertainment			0.2				0.2				0.3
Tax credits			(6.2	)			(1.9	)			(0.6	)
Domestic production deduction			-				-				(2.6	)
Non-deductible ISO stock option expense			-				0.1				0.1
Unrecognized tax benefits			(0.7	)			-				-
Excess tax benefits on equity awards			(0.7	)			(1.3	)			(1.4	)
Excess compensation			0.6				0.8				-
Impact on deferred taxes of new legislation			-				-				(11.1	)
Other			0.4				0.5				0.1
Change in valuation allowance			0.1				-				-
Effective tax rate			16.5	%			22.2	%			22.3	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		December 31,
		2019				2018
Gross UTB balance at beginning of fiscal year		$	150			$	150
Reductions for tax positions of prior years			(150	)			-
Gross UTB balance at end of fiscal year		$	-			$	150

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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