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Note 7 - Federal, State and Local Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2023
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Fiscal Years Ended April 30, |
($ in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Current tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,702 |  |  | $ | 5,625 |  |  | $ | 5,407 |
State and local |  |  | 984 |  |  |  | 1,280 |  |  |  | 1,046 |
Current tax expense |  |  | 5,686 |  |  |  | 6,905 |  |  |  | 6,453 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 23 |  |  |  | 239 |  |  |  | 859 |
State and local |  |  | (3 | ) |  |  | (328 | ) |  |  | (316 | )
Deferred tax expense (benefit): |  |  | 20 |  |  |  | (89 | ) |  |  | 543 |
Income tax provision |  | $ | 5,706 |  |  | $ | 6,816 |  |  | $ | 6,996 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | Fiscal Years Ended April 30, |
($ in thousands) |  | 2023 |  |  | 2022 |
Federal tax liability (benefit): |  |  |  |  |  |  |  |
Deferred gain on deconsolidation of EAM |  | $ | 10,669 |  |  | $ | 10,669 |
Deferred non-cash post-employment compensation |  |  | (372 | ) |  |  | (372 | )
Depreciation and amortization |  |  | 59 |  |  |  | 77 |
Unrealized gain on securities held for sale |  |  | 919 |  |  |  | 909 |
Right of Use Asset |  |  | (174 | ) |  |  | (188 | )
Deferred charges |  |  | (136 | ) |  |  | (154 | )
Other |  |  | (333 | ) |  |  | (300 | )
Total federal tax liability |  |  | 10,632 |  |  |  | 10,641 |
State and local tax liabilities (benefits): |  |  |  |  |  |  |  |
Deferred gain on deconsolidation of EAM |  |  | 2,062 |  |  |  | 2,131 |
Deferred non-cash post-employment compensation |  |  | (72 | ) |  |  | (74 | )
Depreciation and amortization |  |  | 125 |  |  |  | 180 |
Unrealized gain on securities held for sale |  |  | 178 |  |  |  | 194 |
Other |  |  | 204 |  |  |  | 54 |
Total state and local tax liabilities |  |  | 2,497 |  |  |  | 2,485 |
Deferred tax liability, long-term |  | $ | 13,129 |  |  | $ | 13,126 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Fiscal Years Ended April 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
U.S. statutory federal tax rate |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | %
Increase (decrease) in tax rate from: |  |  |  |  |  |  |  |  |  |  |  |
State and local income taxes, net of federal income tax benefit |  |  | 3.25 | % |  |  | 3.12 | % |  |  | 2.05 | %
Nontaxable SBA loan forgiveness |  |  | - |  |  |  | (1.60 | %) |  |  | - |
Effect of dividends received deductions |  |  | (0.26 | %) |  |  | (0.29 | %) |  |  | (0.31 | %)
Other, net |  |  | 0.01 | % |  |  | 0.02 | % |  |  | 0.37 | %
Effective income tax rate |  |  | 24.00 | % |  |  | 22.25 | % |  |  | 23.11 | %

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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