XML 47 R32.htm IDEA: XBRL DOCUMENT v3.22.2

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES

Summary of significant components of the provision for income taxes

Significant components of the provision for income taxes are as follows (in thousands):

​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
​	​	2021			2020
Current:	​	​	​	​	​	​
Federal	​	$	8,443	​	$	8,885
State	​	​	1,280	​	​	1,737
Total current income tax provision	​	​	9,723	​	​	10,622
Deferred:	​	​	​	​	​	​
Federal	​	​	934	​	​	189
State	​	​	99	​	​	16
Total deferred income tax provision	​	​	1,033	​	​	205
Provision for income taxes	​	$	10,756	​	$	10,827

Schedule of reconciliation of the Company's effective tax rate from operations to the U.S. federal income tax rate

​

​	​	​	​	​	​	​
​	​	Year ended				​
​	​	December 31,				​
​	​	2021		2020		​
Federal statutory rate	​	21.0	%	​	21.0	%
State income taxes, net of federal tax benefit	​	1.9	​	​	2.8	​
Energy efficiency credit	​	(5.2)	​	​	(2.3)	​
Other	​	-	​	​	0.7	​
Effective tax rate	​	17.7	%	​	22.2	%

Summary of deferred tax assets and liabilities

The tax effects of cumulative temporary differences that give rise to deferred tax assets and liabilities are as follows (in thousands):

​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
​	​	2021			2020
Deferred tax assets:	​	​	​	​	​	​
Allowance for doubtful accounts	​	$	486	​	$	599
Reserve accounts	​	​	636	​	​	134
State taxes	​	​	44	​	​	263
Payroll taxes	​	​	157	​	​	297
Uniform capitalization	​	​	58	​	​	45
Total deferred tax assets	​	​	1,381	​	​	1,338
Deferred tax liabilities:	​	​	​	​	​	​
Installment sale revenue	​	​	(853)	​	​	(1,006)
Depreciation	​	​	(2,998)	​	​	(1,740)
Accrued interest receivable	​	​	(518)	​	​	(526)
Other	​	​	(16)	​	​	(37)
Total deferred tax liabilities	​	​	(4,385)	​	​	(3,309)
Net deferred tax liabilities	​	$	(3,004)	​	$	(1,971)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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

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=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration