XML 17 R38.htm IDEA: XBRL DOCUMENT
v3.19.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2019
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, |  | 2019 |  | 2018
Current |  |  |  |  |  |  |  |
Federal |  | $ | 673 |  |  | $ | 1,192 |
State |  |  | 339 |  |  |  | 542 |
|  |  | 1,012 |  |  |  | 1,734 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 663 |  |  |  | 562 |
State |  |  | 198 |  |  |  | 120 |
|  |  | 861 |  |  |  | 682 |
|  | $ | 1,873 |  |  | $ | 2,416
Schedule of Reconciliation of Income Tax Expense Computed at the Federal Statutory Tax Rate of Provision for Income Taxes | The reconciliation of income tax expense computed at the federal statutory tax rate of 21% and 28% for the fiscal years ended June 30, 2019 and 2018, respectively, to the provision for income taxes is as follows (in thousands):
Fiscal years ended June 30, |  | 2019 |  | 2018
Tax at the statutory rate |  | $ | 1,180 |  |  | $ | 1,788 |
State income taxes, net of federal benefit |  |  | 323 |  |  |  | 319 |
Other |  |  | 370 |  |  |  | 309 |
|  | $ | 1,873 |  |  | $ | 2,416 |
Effective tax rate |  |  | 33.4 | % |  |  | 37.9 | %
Schedule of Significant Components of the Company's Current and Noncurrent Deferred Tax Assets and Liabilities | Deferred income taxes reflect the net tax effect of temporary differences between the bases of assets and liabilities for financial reporting purposes and the bases used for income tax purposes. Significant components of the Company’s current and noncurrent deferred tax assets and liabilities as of June 30, 2019 and 2018 were as follows (in thousands):
Fiscal years ended June 30, |  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 116 |  |  | $ | 66 |
Inventory capitalization |  |  | 471 |  |  |  | 303 |
Stock compensation |  |  | 499 |  |  |  | 277 |
Other |  |  | 46 |  |  |  | 74 |
|  |  | 1,132 |  |  |  | 720 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Goodwill |  |  | (1,375 | ) |  |  | (664 | )
Depreciation |  |  | (1,217 | ) |  |  | (614 | )
Intangible assets |  |  | (248 | ) |  |  | — |
|  |  | (2,840 | ) |  |  | (1,278 | )
Net deferred income tax (liabilities) assets |  | $ | (1,708 | ) |  | $ | (558 | )

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=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration