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Income taxes | 12 Months Ended
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Dec. 31, 2020
Income taxes |
Income taxes | 11. Income taxes The components of income before income taxes for the years ended December 31, 2020 and 2019 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019
Foreign (not subject to income taxes) | ​ | $ | 6,475,693 | ​ | $ | 13,593,497
Mexico | ​ |  | (4,903,988) | ​ |  | (2,458,210)
United States | ​ |  | 2,956,552 | ​ |  | 2,657,405
​ | ​ |  | 4,528,257 | ​ |  | 13,792,692
Less gain on sale of discontinued operations | ​ | ​ | — | ​ | ​ | (3,621,170)
Less discontinued operations | ​ |  | 4,902,243 | ​ |  | 2,333,255
​ | ​ | $ | 9,430,500 | ​ | $ | 12,504,777
​ The Company’s provision for income taxes for the years ended December 31, 2020 and 2019, which related to U.S. operations, consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019
Current: | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 191,322 | ​ | $ | 143,567
State | ​ | ​ | 87,630 | ​ | ​ | 171,093
Foreign | ​ | ​ | — | ​ | ​ | —
Total | ​ | ​ | 278,952 | ​ | ​ | 314,660
Deferred: | ​ |  | ​ | ​ |  | ​
Federal | ​ | ​ | (132,957) | ​ | ​ | (203,031)
State | ​ | ​ | (59,271) | ​ | ​ | (45,008)
Foreign | ​ | ​ | — | ​ | ​ | —
Total | ​ | ​ | (192,228) | ​ | ​ | (248,039)
Total provision | ​ | $ | 86,724 | ​ | $ | 66,621
​ A reconciliation of the U.S. statutory federal tax rate to the effective rate for the years ended December 31, 2020 and 2019 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2020 |  | 2019 |
U.S. statutory federal rate | ​ | 21.00 | % | 21.00 | %
State taxes, net of federal effect |  | 4.00 | % | 4.38 | %
Nontaxable foreign income |  | (17.28) | % | (19.98) | %
Research & development tax credit |  | (11.73) | % | (3.82) | %
Permanent items |  | (0.67) | % | (0.87) | %
Valuation allowance for deferred tax assets |  | 5.60 | % | (0.18) | %
​ |  | 0.92 | % | 0.53 | %
​ The tax effects of significant items comprising the Company’s net long-term deferred tax liability as of December 31, 2020 and 2019 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2019
Continuing Operations | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets: |  | ​ |  |  | ​ |
Research & development tax credits | ​ | $ | 613,003 | ​ | $ | 166,653
Accrued compensation | ​ | ​ | 110,092 | ​ | ​ | —
Valuation allowances | ​ |  | (496,343) | ​ |  | (43,900)
​ | ​ |  | 226,752 | ​ |  | 122,753
Deferred tax liabilities: | ​ |  |  | ​ |  |
Property and equipment | ​ |  | 252,800 | ​ |  | 148,707
Intangible assets | ​ |  | 1,188,009 | ​ |  | 1,380,328
​ | ​ |  | 1,440,809 | ​ |  | 1,529,035
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax liability | ​ | $ | 1,214,057 | ​ | $ | 1,406,282
​ | ​ | ​ | ​ | ​ | ​ | ​
Discontinued Operations | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Operating loss carryforwards - Mexico | ​ | $ | 4,296,453 | ​ | $ | 3,427,295
Land basis difference - Mexico | ​ | ​ | 1,262,159 | ​ | ​ | 1,164,365
Start-up costs - Mexico | ​ | ​ | 4,904,337 | ​ | ​ | 4,608,990
Valuation allowances | ​ | ​ | (10,462,949) | ​ | ​ | (9,200,650)
​ | ​ | $ | — | ​ | $ | —
​

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
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