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Note 11 - Income Tax (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

		Years Ended December 31,
		2022				2021				2020
Domestic		$	34,654			$	21,205			$	16,283
Foreign			18,064				-				-
Total			52,718				21,205				16,283

		Years Ended December 31,
		2022				2021				2020
Current
Federal		$	11,238			$	5,793			$	2,223
State			2,309				1,320				555
Foreign			1,863				-				-
Total Current			15,410				7,113				2,778
Deferred
Federal			(3,856	)			(1,399	)			(28	)
State			(624	)			(395	)			164
Foreign			(1	)			-				-
Total Deferred			(4,481	)			(1,794	)			136
Total income tax provision		$	10,929			$	5,319			$	2,914

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

		December 31,
		2022				2021
Deferred tax assets:
Reserves		$	450			$	380
Inventory capitalization			305				706
Compensation programs			2,120				1,842
Equity-based compensation			690				668
Lease liability			3,298				2,427
Intangible assets			1,132				877
Deferred revenue			1,115				365
Other			362				17
Gross deferred tax assets			9,472				7,282
Valuation allowance			-				(17	)
Net deferred tax assets			9,472				7,265
Deferred tax liabilities:
Excess of book over tax basis of fixed assets			(2,782	)			(4,481	)
Goodwill			(2,445	)			(3,628	)
Right of use asset			(3,245	)			(2,419	)
Total deferred tax liabilities			(8,472	)			(10,528	)
Net long-term deferred tax assets (liabilities)		$	1,000			$	(3,263	)

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

		Years Ended December 31,
		2022				2021				2020
U.S. federal statutory rate			21.0	%			21.0	%			21.0	%
Increase (decrease) in income taxes resulting from:
State taxes, net of federal tax benefit			3.2				4.0				4.2
Meals and entertainment			-				-				0.1
Tax credits			(0.7	)			(1.7	)			(7.2	)
Return to provision adjustments			-				0.7				-
Foreign rate differential			(3.7	)			-				-
GILTI impact			0.8				-				-
Excess tax benefits on equity awards			-				-				(1.2	)
Excess compensation			0.8				0.7				0.8
Other			(0.7	)			0.6				0.2
Change in valuation allowance			-				(0.2	)			-
Effective tax rate			20.7	%			25.1	%			17.9	%

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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Section 50
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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.

+ References

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-SubTopic 10
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-Paragraph 12
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