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Income tax provision | 12 Months Ended
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Oct. 31, 2014
Income Tax Disclosure [Abstract] |
Income tax provision | Note 7 - Income tax provision The provision (benefit) for income taxes for the fiscal years ended October 31, 2014 and 2013 consists of the following (in thousands):
|  | 2014 |  | 2013 |
Current: |  |  |  |  |  |  |
Federal |  | $ | 839 |  | $ | 1,650 |
State |  |  | 180 |  |  | 191 |
|  |  | 1,019 |  |  | 1,841 |
Deferred: |  |  |  |  |  |  |
Federal |  |  | (54) |  |  | 146 |
State |  |  | (6) |  |  | (7) |
|  |  | (60) |  |  | 139 |
|  | $ | 959 |  | $ | 1,980 |
Income tax at the federal statutory rate is reconciled to the Company’s actual net provision for income taxes as follows (in thousands, except percentages):
|  | 2014 |  | 2013 |
|  |  |  | % of Pretax |  |  |  | % of Pretax |
|  | Amount |  | Income |  | Amount |  | Income |
Income tax at Federal statutory rate |  | $ | 780 |  |  | 34.0 | % | $ | 2,286 |  |  | 34.0 | %
State tax provision, net of Federal tax benefit |  |  | 135 |  |  | 5.9 | % |  | 227 |  |  | 3.3 | %
Nondeductible differences: |  |  |  |  |  |  |  |  |  |  |  |  |
ISO stock options, net |  |  | 54 |  |  | 2.4 | % |  | (324) |  |  | -4.8 | %
Qualified domestic production activities deduction |  |  | (32) |  |  | -1.4 | % |  | (87) |  |  | -1.3 | %
Other |  |  | 28 |  |  | 1.1 | % |  | 40 |  |  | 0.6 | %
R&D credit |  |  | (6) |  |  | -0.2 | % |  | (87) |  |  | -1.3 | %
Other |  |  | - |  |  | - |  |  | (75) |  |  | -1.1 | %
Provision for income taxes |  | $ | 959 |  |  | 41.8 | % | $ | 1,980 |  |  | 29.4 | %
The Company’s total deferred tax assets and deferred tax liabilities at October 31, 2014 and 2013 are as follows (in thousands):
|  | 2014 |  | 2013 |
Current Assets: |  |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 12 |  | $ | 40 |
Accrued vacation |  |  | 118 |  |  | 144 |
State income taxes |  |  | 26 |  |  | 25 |
Stock based compensation awards |  |  | 162 |  |  | 173 |
Section 263A costs |  |  | 97 |  |  | 103 |
Other |  |  | 1 |  |  | 10 |
Total current assets |  |  | 416 |  |  | 495 |
Long-Term Assets: |  |  |  |  |  |  |
Amortization / intangible assets |  |  | 76 |  |  | 90 |
Long-Term Liabilities: |  |  |  |  |  |  |
Amortization / intangible assets |  |  | (618) |  |  | (708) |
Depreciation / equipment and furnishings |  |  | (269) |  |  | (332) |
Net long-term deferred tax liabilities |  |  | (811) |  |  | (950) |
Total deferred tax liabilities |  | $ | (395) |  | $ | (455) |
The Company had no unrecognized tax benefits nor any gross liability for unrecognized tax benefits at October 31, 2014 and 2013. As of October 31, 2014 and October 31, 2013, $0 of accrued interest and penalties were included in other long-term liabilities in the balance sheet. The Company is currently not undergoing any tax examinations. Tax fiscal years ended October 31, 2010 through October 31, 2014 remain subject to examination.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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