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Note 10 - Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,223 |  |  | $ | 2,920 |  |  | $ | 1,772 |
State |  |  | 555 |  |  |  | 184 |  |  |  | 439 |
|  |  | 2,778 |  |  |  | 3,104 |  |  |  | 2,211 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (28 | ) |  |  | 485 |  |  |  | 1,917 |
State |  |  | 164 |  |  |  | 307 |  |  |  | (36 | )
|  |  | 136 |  |  |  | 792 |  |  |  | 1,881 |
Total income tax provision |  | $ | 2,914 |  |  | $ | 3,896 |  |  | $ | 4,092 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | December 31, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Reserves |  | $ | 351 |  |  | $ | 362 |
Inventory capitalization |  |  | 550 |  |  |  | 396 |
Compensation programs |  |  | 802 |  |  |  | 578 |
Equity-based compensation |  |  | 524 |  |  |  | 403 |
Lease liability |  |  | 567 |  |  |  | 795 |
Intangible assets |  |  | - |  |  |  | 73 |
State tax credits, net of federal impact |  |  | 123 |  |  |  | 274 |
Gross deferred tax assets |  |  | 2,917 |  |  |  | 2,881 |
Valuation allowance |  |  | (64 | ) |  |  | (136 | )
Net deferred tax assets |  |  | 2,853 |  |  |  | 2,745 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Excess of book over tax basis of fixed assets |  |  | (4,527 | ) |  |  | (4,877 | )
Goodwill |  |  | (2,795 | ) |  |  | (2,008 | )
Right of use asset |  |  | (554 | ) |  |  | (781 | )
Intangible assets |  |  | (34 | ) |  |  | - |
Total deferred tax liabilities |  |  | (7,910 | ) |  |  | (7,666 | )
Net long-term deferred tax liabilities |  | $ | (5,057 | ) |  | $ | (4,921 | )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Computed “expected” tax rate |  |  | 21 | % |  |  | 21 | % |  |  | 21 | %
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State taxes, net of federal tax benefit |  |  | 4.2 |  |  |  | 1.8 |  |  |  | 2.8 |
Meals and entertainment |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.2 |
Tax credits |  |  | (7.2 | ) |  |  | (6.2 | ) |  |  | (1.9 | )
Non-deductible ISO stock option expense |  |  | - |  |  |  | - |  |  |  | 0.1 |
Unrecognized tax benefits |  |  | - |  |  |  | (0.7 | ) |  |  | - |
Excess tax benefits on equity awards |  |  | (1.2 | ) |  |  | (0.7 | ) |  |  | (1.3 | )
Excess compensation |  |  | 0.8 |  |  |  | 0.6 |  |  |  | 0.8 |
Other |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.5 |
Change in valuation allowance |  |  | - |  |  |  | 0.1 |  |  |  | - |
Effective tax rate |  |  | 17.9 | % |  |  | 16.5 | % |  |  | 22.2 | %
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
|  | December 31, |
|  | 2020 |  |  | 2019 |
Gross UTB balance at beginning of fiscal year |  | $ | - |  |  | $ | 150 |
Reductions for tax positions of prior years |  |  | - |  |  |  | (150 | )
Gross UTB balance at end of fiscal year |  | $ | - |  |  | $ | - |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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