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Note 14 - Income Taxes (Tables)

12 Months Ended

Aug. 31, 2020

Notes Tables

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

		Fiscal Year Ended August 31,
		2020				2019
Current:
Federal		$	—			$	—
State			23,000				48,000
Foreign			1,226,000				902,000
			1,249,000				950,000
Deferred:
Federal			1,501,000				(315,000	)
State			101,000				(21,000	)
Foreign			(177,000	)			228,000
			1,425,000				(108,000	)
		$	2,674,000			$	842,000

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

		Fiscal Year Ended August 31,
		2020				2019
Tax computed at statutory rates		$	365,000			$	1,398,000
State income tax, net of federal benefit			23,000				27,000
Tax effect on equity in income of international joint ventures			(888,000	)			(1,490,000	)
Tax effect of foreign operations			641,000				672,000
Deemed repatriation			108,000				204,000
Research and development credit			(368,000	)			(133,000	)
Valuation allowance			2,797,000				133,000
Stock based compensation			189,000				208,000
Non-controlling interest			(55,000	)			(74,000	)
Other			(138,000	)			(103,000	)
		$	2,674,000			$	842,000

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

		August 31,
		2020				2019
Accrued compensation		$	173,500			$	153,400
Inventory costs			64,000				60,900
Other accrued expenses			74,900				39,700
Lease liability			147,500				-
Goodwill and other intangible assets			581,200				688,400
Stock-based compensation			397,300				299,300
Foreign tax credit carryforward			5,790,500				5,790,500
Other credit and loss carryforwards			4,824,200				3,631,700
Total deferred tax assets			12,053,100				10,663,900
Valuation allowance			(11,561,700	)			(8,764,300	)
Total deferred tax assets after valuation allowance			491,400				1,899,600
Property and equipment			(50,700	)			(111,900	)
Right-of-use asset			(147,500	)			-
Other			(83,400	)			(153,400	)
Total deferred tax liabilities			(281,600	)			(265,300	)
Net deferred tax assets		$	209,800			$	1,634,300

Summary of Income Tax Contingencies [Table Text Block]

		Fiscal Year Ended August 31,
		2020				2019
Gross unrecognized tax benefits – beginning balance		$	248,000			$	242,000
Gross increases – prior period tax positions			15,200				1,000
Gross increases – current period tax positions			15,000				5,000
Gross unrecognized tax benefits – ending balance		$	278,200			$	248,000

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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