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Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Taxes Payable [Table Text Block]

Taxes payable consisted of the following at December 31, 2018 and 2017:

		2018				2017
Tax receivable		$	-				-
Income tax payable - current		$	584,874			$	178,307
Income tax payable – noncurrent		$	3,351,652			$	4,527,849

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The (benefit) provision for income taxes on income consisted of the following:

		2018				2017
Current:
Federal		$	(655,972	)		$	2,458,876
State			2,400				2,400
PRC			111,142				122,987
			(542,430	)			2,584,263
Deferred:
Federal			(41,138	)			271,799
State			(76,350	)			(96,249	)
Total (benefit) provision for income taxes		$	(659,918	)		$	2,759,813

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the difference between the actual (benefit) provision for income taxes and the (benefit) provision computed by applying the federal statutory rate on income before income taxes:

		2018				2017
Tax at federal statutory rate		$	974,405			$	2,218,304
Foreign income taxed at different rates			4,209				(736,396	)
ASC 740-10 uncertain tax position			(687,055	)			(135,293	)
Tax exemption			(1,174,860	)			(2,045,545	)
Global Intangible Low-Taxed Income			542,258				-
Stock based compensation			(270,754	)			471,323
Tax Cut and Jobs Act			30,055				3,365,221
Others			(78,176	)			(377,801	)
Total (benefit) provision for income taxes		$	(659,918	)		$	2,759,813

Schedule of the Aggregate Dollar and Per Share Effects of Tax Exemption [Table Text Block]

The following presents the aggregate dollar effects of the Company’s tax exemption:

		2018				2017
Aggregate dollar effect of tax holiday		$	1,174,860			$	2,045,545

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred taxes are comprised of the following:

		2018				2017
Non-Current Deferred Tax Assets:
Accrued liabilities		$	108,250			$	106,277
Fed & CA amortization			26,481				29,844
Stock compensation			129,691				128,753
U.S. NOL			196,430				129,679
Non-Current Deferred Tax Liabilities:
Prepaid expenses			(3,988	)			(50,566	)
Fed & CA depreciation			(20,415	)			(25,026	)
Net Non-Current Deferred Tax Assets before Valuation Allowance			436,449				318,961
Less: Valuation Allowance			-				-
Non-Current Deferred Tax Assets, Net:			436,449				318,961
Total Deferred Assets, Net:		$	436,449			$	318,961

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