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Income Taxes
 9 Months Ended
Jan. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes

(16) Income Taxes

 

Uncertain Tax Positions

 

We account for income taxes in accordance with ASC 740 . The guidance requires the Company to recognize in its consolidated financial statements the impact of a tax position if that position is more likely than not to be sustained upon examination, based on the technical merits of the position. The Company has no current or deferred tax due to current and projected losses for the year.

 

The Company has appealed the results of the income tax audit in Spain for the period from 2011 to 2014, when the Company’s Spanish branch was closed (see Note 15).

 

At January 31, 2023, the Company had no uncertain tax positions. The Company does not expect any material increase or decrease in its income tax expense or benefit in the next twelve months, related to examinations or uncertain tax positions. Net operating loss and credit carry forwards since inception remain open to examination by taxing authorities and will continue to remain open for a period of time after utilization.

 

Income Tax Benefit

 

The Company has sold New Jersey State net operating losses and research development credits under the New Jersey Economic Development Authority Tax Transfer program which has resulted in $278,000 and $1.0 million of income tax benefit related to the three and nine months ended January 31, 2023 and January 31, 2022, respectively.