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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Taxes

The following are the components of income taxes (in thousands):

Fiscal years ended June 30,		2017				2016
Current
Federal		$	1,712			$	895
State			314				153
			2,026				1,048

Fiscal years ended June 30,		2017				2016
Deferred
Federal			(2	)			4
State			(1	)			1
			(3	)			5
		$	2,023			$	1,053

Schedule of Reconciliation of Income Tax Expense Computed at the Federal Statutory Tax Rate of 34% to the Provision for Income Taxes

The reconciliation of income tax expense computed at the federal statutory tax rate of 34% to the provision for income taxes is as follows (in thousands):

Fiscal years ended June 30,		2017				2016
Tax at the statutory rate		$	1,765			$	950
State income taxes,      net of federal benefit			196				101
Other			62				2
		$	2,023			$	1,053
Effective tax rate			38.9%				37.7%

Schedule of Significant Components of the Company's Current and Noncurrent Deferred Tax Assets and Liabilities

Significant components of the Company’s current and noncurrent deferred tax assets and liabilities are as follows (in thousands):

Fiscal years ended June 30,		2017				2016
Deferred tax assets:
Allowance for doubtful accounts		$	39			$	60
Inventory capitalization			94				30
Stock compensation			159				—
Other			86				31
			378				121
Deferred tax liabilities:
Goodwill Amortization			(101	)			—
Depreciation			(153	)			—
			(254	)			—
Net deferred income tax assets		$	124			$	121

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- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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