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Note H - Income Taxes

12 Months Ended

Apr. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

H - Income Taxes

The provision for income taxes was as follows:

		Years Ended April 30,
(In thousands)		2017				2016				2015
Provision for income taxes
Current		$	11,399			$	7,800			$	13,610
Deferred			638				(898	)			3,934
Total		$	12,037			$	6,902			$	17,544

The provision for income taxes is different from the amount computed by applying the statutory federal income tax rate to income before income taxes for the following reasons:

		Years Ended April 30,
(In thousands)		2017				2016				2015
Tax provision at statutory rate		$	11,285			$	6,474			$	16,463
State taxes, net of federal benefit			868				443				1,172
Other, net			(116	)			(15	)			(91	)
Total		$	12,037			$	6,902			$	17,544

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred income tax assets and liabilities were as follows:

		Years Ended April 30,
(In thousands)		2017				2016
Deferred income tax liabilities related to:
Finance receivables		$	26,524			$	24,868
Property and equipment			131				1,160
Total			26,655				26,028
Deferred income tax assets related to:
Accrued liabilities			2,371				2,069
Inventory			149				149
Share based compensation			3,964				4,505
Deferred revenue			1,253				1,025
Total			7,737				7,748
Deferred income tax liabilities, net		$	18,918			$	18,280

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- References

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- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

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