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Income Taxes (Tables) | 12 Months Ended
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Jan. 31, 2023
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, is as follows (in thousands):
| 2023 |  | 2022
Statutory | $ | 1,689 |  |  | $ | (782) |
State taxes (net of federal tax) | 746 |  |  | 14 |
Change in valuation allowance | (10,546) |  |  | 12,303 |
State rate adjustment | (397) |  |  | (197) |
Change in unrecognized tax benefits | 6 |  |  | 5 |
Stock compensation | 35 |  |  | 48 |
Expirations of attributes | 17 |  |  | 55 |
Permanent differences | (13) |  |  | (31) |
Return to provision | (41) |  |  | (7) |
Income tax (benefit) expense | $ | (8,504) |  |  | $ | 11,408 |
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, is as follows (in thousands):
| 2023 |  | 2022
Current |  |  |
Federal | $ | 82 |  |  | $ | — |
State | 125 |  |  | 92 |
| 207 |  |  | 92 |
Deferred |  |  |
Federal | 1,524 |  |  | (731) |
State | 311 |  |  | (256) |
| 1,835 |  |  | (987) |
Change in valuation allowance | (10,546) |  |  | 12,303 |
| (8,711) |  |  | 11,316 |
Income tax (benefit) expense | $ | (8,504) |  |  | $ | 11,408 |
Deferred tax assets and liabilities | Deferred tax assets and liabilities are comprised of the following as of January 31, respectively, as follows (in thousands):
| 2023 |  | 2022
Deferred tax assets |  |  |
Accrued vacation and sick leave | $ | 1,925 |  |  | $ | 943 |
Retirement plans | 2,729 |  |  | 3,930 |
Insurance reserves | 325 |  |  | 300 |
Warranty | 156 |  |  | 154 |
Net operating loss carryforwards | 1,949 |  |  | 4,445 |
Right of use liability | 3,087 |  |  | 4,159 |
Inventory | 1,820 |  |  | 2,124 |
Other | 401 |  |  | 361 |
| 12,392 |  |  | 16,416 |
Deferred tax liabilities |  |  |
Tax in excess of book depreciation | (987) |  |  | (984) |
Right of use assets | (2,630) |  |  | (3,567) |
Other | (111) |  |  | (54) |
| (3,728) |  |  | (4,605) |
Valuation allowance | (864) |  |  | (11,412) |
Net long term deferred tax asset | $ | 7,800 |  |  | $ | 399 |
Unrecognized tax benefits | The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended January 31, respectively, as follows (in thousands):
| 2023 |  | 2022
Balances as of February 1, | $ | 57 |  |  | $ | 54 |
Increases related to prior year tax positions | — |  |  | — |
Decreases related to prior year tax positions | (5) |  |  | (1) |
Increases related to current year tax positions | 19 |  |  | 10 |
Decreases related to lapsing of statute of limitations | (9) |  |  | (6) |
Balance as of January 31, | $ | 62 |  |  | $ | 57 |

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