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Provision For Income Taxes
 12 Months Ended
Dec. 31, 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 Years Ended
  
   
December 31,
  
   
2013
    
2012
  
Current:
            
Federal
  
$
2,551,505
    
$
2,757,332
  
State and local
    
554,174
      
882,640
  
Total current
    
3,105,679
      
3,639,972
  
Deferred
    
(238,804
)
    
(434,896)
  
Provision for income taxes
  
$
2,866,875
    
$
3,205,076
  

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

   
For the Years Ended
  
   
December 31,
  
   
2013
    
2012
  
   
Amount
    
Percentage
    
Amount
    
Percentage
  
Federal income tax expense computed at the statutory rate
  
$
2,666,223
      
34.0%
 
  
$
3,000,457
      
34.0%
 
State and local tax expense, net
    
744,974
      
9.5%
 
    
838,363
      
9.5%
 
U.S. domestic manufacturers' deduction & other permanent differences
    
(455,442
)
    
(5.8)%
 
    
(427,525)
      
(4.9)%
 
Change in tax estimate
    
(88,880
)
    
(1.1)%
 
    
(206,219)
      
(2.2)%
 
Provision for income taxes
  
$
2,866,875
      
36.6%
 
  
$
3,205,076
      
36.4%
 

 
Amounts for deferred tax assets and liabilities are as follows:

   
December 31,
  
   
2013
    
2012
  
Non-current deferred tax assets (liabilities) arising from:
Temporary differences -
            
Accumulated depreciation and amortization
            
from purchase accounting adjustments
  
$
(2,896,058
)
  
$
(3,164,716
)
Capital loss carry-forwards
    
52,632
      
136,198
  
Total non-current net deferred tax liabilities
    
(2,843,426
)
    
(3,028,518
  
Current deferred tax assets arising from:
                
Unrealized losses (gain) on investments
    
(7,589
)
    
(41,260
)
Inventory
    
307,910
      
265,072
  
Allowance for doubtful accounts and discounts
    
21,750
      
10,875
  
Total current deferred tax assets
    
322,071
      
234,687
  
Net deferred tax liability
  
$
(2,521,355
)
  
$
(2,793,831
)