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Provision For Income Taxes
 9 Months Ended
Sep. 30, 2013
Provision For Income Taxes [Abstract]  
Provision For Income Taxes
Note 10 – PROVISION FOR INCOME TAXES

The provision for income taxes consists of the following:

   
For the Nine Months Ended
  
   
September 30,
  
   
2013
    
2012
  
Current:
            
Federal
  
$
2,892,620
    
$
2,318,292
  
State and local
    
597,526
      
623,348
  
Total current
    
3,490,146
      
2,941,640
  
Deferred
    
(231,218
 )    
(458,424
 )
Provision for income taxes
  
$
3,258,928
    
$
2,483,216
  

 
A reconciliation of the provision for income taxes and the income tax computed at the statutory rate is as follows:

   
For the Nine Months Ended
  
   
September 30,
  
   
2013
    
2012
  
   
Amount
    
Percentage
    
Amount
    
Percentage
  
Federal income tax expense computed at the statutory rate
  
$
2,964,268
      
34.0%     
 
  
$
2,390,034
      
34.0%     
 
State and local tax expense, net
    
828,251
      
9.5%     
 
    
667,804
      
9.5%     
 
U.S. domestic manufacturers' deduction & other permanent differences
    
(444,711)
      
(5.1)%     
 
    
(368,403)
      
(5.2)%     
 
Change in tax estimate
    
(88,880)
      
(1.0)%     
 
    
(206,219)
      
(2.9)%     
 
Provision for income taxes
  
$
3,258,928
      
37.4%     
 
  
$
2,483,216
      
35.4%     
 



Amounts for deferred tax assets and liabilities are as follows:

   
September 30,
    
December 31,
  
   
2013
    
2012
    
2012
  
Non-current deferred tax assets (liabilities) arising from:
Temporary differences -
                  
Accumulated depreciation and amortization
                  
from purchase accounting adjustments
  
$
(3,002,058
)
  
$
(3,279,737
)
  
$
(3,164,716
)
Capital loss carry-forwards
    
84,845
      
167,208
      
136,198
  
Total non-current net deferred tax liabilities
    
(2,917,213
)
    
(3,112,529
)
    
(3,028,518
)
Current deferred tax assets arising from:
                        
Unrealized losses (gain) on investments
    
(1,583
)
    
(67,596
)
    
(41,260
)
Inventory
    
374,110
      
248,633
      
265,072
  
Allowance for doubtful accounts and discounts
    
21,750
      
134,850
      
10,875
  
Total current deferred tax assets
    
394,277
      
315,887
      
234,687
  
Net deferred tax liability
  
$
(2,522,936
)
  
$
(2,796,642
)
  
$
(2,793,831
)