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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Income tax expense (benefit) reconciled to statutory rate

The income tax (benefit) expense for the last two years is reconciled to the statutory federal income tax rates of 21% for the tax years ended January 31, respectively, as follows (in thousands):

			2021						2020
Statutory			$	(625)					$	585
State taxes (net of federal tax)			9						400
Change in valuation allowance			(119)						(573)
State rate adjustment			(104)						(291)
Change in unrecognized tax benefits			(4)						20
Stock Compensation			85						(28)
Expirations of attributes			16						345
Permanent differences			11						(17)
Return to provision			(13)						(96)
Income tax (benefit) expense			$	(744)					$	345

Significant components of expense (benefit)

Significant components of the (benefit) expense for income taxes attributed to continuing operations are as follows for the years ended January 31 (in thousands):

			2021						2020
Current
Federal			$	—					$	—
State			(2)						136
			(2)						136
Deferred
Federal			(555)						442
State			(68)						340
			(623)						782
Change in valuation allowance			(119)						(573)
			(742)						209
Income tax (benefit) expense			$	(744)					$	345

Deferred tax assets and liabilities

Deferred tax assets and liabilities are comprised of the following as of January 31 (in thousands):

			2021						2020
Deferred tax assets
Accrued vacation and sick leave			$	835					$	1,264
Retirement plans			5,657						5,448
Insurance reserves			293						443
Warranty			181						207
Net operating loss carryforwards			4,501						3,658
Right of use liabilities			5,237						6,067
Inventory			1,287						1,175
Business interest expense limitation			—						224
Other			324						301
			$	18,315					$	18,787
Deferred tax liabilities
Tax in excess of book depreciation			$	(924)					$	(802)
Right of use assets			(4,541)						(5,519)
Other			(70)						(53)
			$	(5,535)					$	(6,374)
Valuation allowance			(1,064)						(1,183)
Net long term deferred tax asset			$	11,716					$	11,230

Unrecognized tax benefits

The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended January 31 (in thousands):

			2021						2020
Balances as of February 1,			$	60					$	38
Increases related to prior year tax positions			—						8
Decreases related to prior year tax positions			(4)						—
Increases related to current year tax positions			8						18
Decreases related to lapsing of statute of limitations			(10)						(4)
Balance as of January 31,			$	54					$	60

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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