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Note H - Income Taxes | 12 Months Ended
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Apr. 30, 2018
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) |  | 2018 |  | 2017 |  | 2016
Provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 8,757 |  |  | $ | 11,399 |  |  | $ | 7,800 |
Deferred |  |  | (6,360 | ) |  |  | 638 |  |  |  | (898 | )
Total |  | $ | 2,397 |  |  | $ | 12,037 |  |  | $ | 6,902 |
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) |  | 2018 |  | 2017 |  | 2016
Tax provision at statutory rate |  | $ | 11,827 |  |  | $ | 11,285 |  |  | $ | 6,474 |
State taxes, net of federal benefit |  |  | 1,077 |  |  |  | 868 |  |  |  | 443 |
Tax benefit from option exercises |  |  | (1,721 | ) |  |  | - |  |  |  | - |
Deferred tax adjustment related to Tax Act |  |  | (8,083 | ) |  |  | - |  |  |  | - |
Other, net |  |  | (703 | ) |  |  | (116 | ) |  |  | (15 | )
Total |  | $ | 2,397 |  |  | $ | 12,037 |  |  | $ | 6,902 |
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) |  | 2018 |  | 2017
Deferred income tax liabilities related to: |  |  |  |  |  |  |  |
Finance receivables |  | $ | 17,764 |  |  | $ | 26,524 |
Goodwill |  |  | 61 |  |  |  | 131 |
Total |  |  | 17,825 |  |  |  | 26,655 |
Deferred income tax assets related to: |  |  |  |  |  |  |  |
Accrued liabilities |  |  | 1,894 |  |  |  | 2,371 |
Inventory |  |  | 120 |  |  |  | 149 |
Share based compensation |  |  | 2,144 |  |  |  | 3,964 |
Property and equipment |  |  | 82 |  |  |  | - |
State net operating loss |  |  | 69 |  |  |  | - |
Deferred revenue |  |  | 958 |  |  |  | 1,253 |
Total |  |  | 5,267 |  |  |  | 7,737 |
Deferred income tax liabilities, net |  | $ | 12,558 |  |  | $ | 18,918 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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