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Note 12 - Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Notes Tables

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

Fiscal year ended October 31, 2020		Current				Deferred				Total
U.S. Federal		$	—			$	—			$	—
State			18,041				—				18,041
Totals		$	18,041			$	—			$	18,041

Fiscal year ended October 31, 2019		Current				Deferred				Total
U.S. Federal		$	726			$	(726	)		$	—
State			(5,805	)			—				(5,805	)
Totals		$	(5,079	)		$	(726	)		$	(5,805	)

Fiscal year ended October 31, 2018		Current				Deferred				Total
U.S. Federal		$	14,163			$	(49,281	)		$	(35,118	)
State			18,467				—				18,467
Totals		$	32,630			$	(49,281	)		$	(16,651	)

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

		Years ended October 31,
		2020				2019				2018
“Expected” income taxes (benefit)		$	(1,281,668	)		$	(1,191,776	)		$	243,772
Increase (reduction) in income tax expense (benefit) resulting from:
Remeasurement of deferred taxes related to the Tax Act			—				—				1,272,517
State income taxes, net of federal benefit			(139,736	)			(12,875	)			2,641
Meals and Entertainment			7,317				17,999				24,661
Provision to return reconciliation adjustment			350				6,400				(57,118	)
Excess tax benefits related to share-based compensation			14,473				(90,603	)			—
Non-deductible officers' compensation			—				31,456				—
Other differences, net			6,088				3,434				964
Change in valulation allowance			1,411,217				1,230,160				(1,504,088	)
Reported income tax benefit		$	18,041			$	(5,805	)		$	(16,651	)

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

		October 31,
		2020				2019
Deferred tax assets:
Accounts receivable, due to allowances for doubtful accounts and sales returns		$	139,809			$	54,370
Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986			764,183				769,871
Liabilities recorded for accrued expenses, deductible for tax purposes when paid			294,857				111,677
Share-based compensation expense			16,814				20,410
Section 163(j) interest			254,520				121,583
Expenses incurred related to expected PPP Loan forgiveness			1,162,161				—
Net operating loss carryforwards			2,163,956				2,374,774
AMT credit carryforwards			25,003				50,007
Other			53,136				53,997
Total gross deferred tax assets			4,874,439				3,556,689
Valuation allowance			(4,759,862	)			(3,348,645	)
Net deferred tax assets			114,577				208,044
Deferred tax liabilities:
Plant and equipment, due to differences in depreciation and capital gain recognition			(86,997	)			(155,461	)
Other receivables, due to accrual for financial reporting purposes			(2,577	)			(2,576	)
Total gross deferred tax liabilities			(89,574	)			(158,037	)
Net deferred tax asset		$	25,003			$	50,007

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		October 31,
		2020				2019
Unrecognized tax benefits balance at beginning of year		$	48,941			$	60,147
Gross decreases for tax positions of prior years			—				(11,206	)
Gross increases for current year tax positions			—				—
Unrecognized tax benefits balance at end of year		$	48,941			$	48,941

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