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Note 7 - Federal, State and Local Income Taxes (Tables)

12 Months Ended

Apr. 30, 2017

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Fiscal Years Ended April 30,
($ in thousands)		2017				2016				2015
Current tax expense (benefit):
Federal		$	6,360			$	3,799			$	3,197
State and local			469				219				243
			6,829				4,018				3,440
Deferred tax expense (benefit):
Federal			(1,299	)			(839	)			(83	)
State and local			(412	)			(462	)			(154	)
			(1,711	)			(1,301	)			(237	)
Income tax provision:		$	5,118			$	2,717			$	3,203

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		Fiscal Years Ended April 30,
($ in thousands)		2017				2016
Federal tax benefit (liability):
Unrealized gains on securities available-for-sale		$	(249	)		$	(68	)
Capital loss carryforward			-				86
Operating lease exit obligation			151				58
Deferred professional fees			17				77
Deferred charges			402				250
Total federal tax benefit			321				403
State and local tax benefits:
Other - deferred charges			28				29
Total state and local tax benefits			28				29
Deferred tax asset, short term		$	349			$	432

		Fiscal Years Ended April 30,
($ in thousands)		2017				2016
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM		$	17,742			$	17,679
Deferred non-cash post-employment compensation			(619	)			(619	)
Depreciation and amortization			454				1,812
Other			(45	)			8
Total federal tax liability			17,532				18,880
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM			1,206				1,704
Deferred non-cash post-employment compensation			(42	)			(60	)
Depreciation and amortization			31				174
Deferred professional fees			(2	)			(15	)
Total state and local tax liabilities			1,193				1,803
Deferred tax liability, long term		$	18,725			$	20,683

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Fiscal Years Ended April 30,
		2017				2016				2015
U.S. statutory federal rate			35.00	%			35.00	%			35.00	%
Increase (decrease) in tax rate from:
State and local income taxes, net of federal income tax benefit			-0.88	%			-3.39	%			-0.15	%
Effect of dividends received deductions			-0.33	%			-0.41	%			-0.40	%
Write off goodwill			-				-				-1.62	%
Domestic production tax credit			-0.17	%			-0.33	%			-0.44	%
Other, net			-0.57	%			-3.72	%			-1.87	%
Effective income tax rate			33.05	%			27.15	%			30.52	%

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://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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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
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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
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