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Note 15 - Income Taxes
6 Months Ended
Feb. 28, 2019
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
15.
INCOME TAXES
 
On
December 22, 2017,
the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act, or Tax Reform Act. The Tax Reform Act makes broad and complex changes to the U.S. tax code that impacted the Company’s fiscal year ended
August 31, 2018,
including, but
not
limited to, reducing the U.S. federal corporate tax rate from
35%
to
21%
effective
January 1, 2018,
generally eliminating U.S. federal income taxes on dividends received from foreign subsidiaries and joint ventures after
December 31, 2017,
and imposing a
one
-time deemed repatriation tax on certain unremitted earnings of foreign subsidiaries and joint ventures.
 
The Company recorded income tax expense during the
three
and
six
months ended
February 28, 2019,
of
$246,371
and
$502,074,
respectively, compared to
$841,909
and
$946,900
for the
three
and
six
months ended
February 28, 2018.