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Note 10 - Income Tax (Tables)

12 Months Ended

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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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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