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Income Taxes | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Taxes | Note 12. Income Taxes The Company accounts for its deferred tax assets and liabilities, including excess tax benefits of share-based payments, based on the tax ordering of deductions to be used on its tax returns. The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities for the years ended December 31 is as follows: Schedule of Deferred Tax Assets and Liabilities
|  | Years ending December 31, |
|  | 2021 |  |  | 2020 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Net Operating Loss Carry Forwards |  | $ | 84,303 |  |  | $ | 324,000 |
Tax Credits |  |  | 1,050,595 |  |  |  | 907,000 |
Deferred Revenue |  |  | 253,319 |  |  |  | 152,000 |
Stock Compensation |  |  | 183,953 |  |  |  | 120,000 |
Investment in TEC |  |  | 83,277 |  |  |  | 89,000 |
Reserves, Accruals, and Other |  |  | 295,444 |  |  |  | 254,000 |
Fixed Assets |  |  | - |  |  |  | 46,000 |
intangibles |  |  | 252,716 |  |  |  | - |
Total Deferred Tax Assets |  | $ | 2,203,607 |  |  | $ | 1,892,000 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Fixed Assets |  | $ | (529,373 | ) |  | $ | - |
Total Deferred Tax Liabilities |  | $ | (529,373 | ) |  | $ | - |
Valuation Allowance |  |  | - |  |  |  | - |
Net Deferred Taxes |  | $ | 1,674,234 |  |  | $ | 1,892,000 |
Internal Revenue Code Section 382 limits the ability to utilize net operating losses if a 50% change in ownership occurs over a three-year period. The Company does not believe that such limitation of the net operating losses has occurred. Significant components of the provision (benefit) for income tax for the years ended December 31 as follows: Schedule of Significant Components of Income Tax Provision
|  | 2021 |  |  | 2020 |
Current |  | $ | 28,283 |  |  | $ | (118,800 | )
Deferred |  |  | 217,767 |  |  |  | (100,000 | )
Change in valuation allowance |  |  | - |  |  |  | - |
Provision (benefit) for income taxes |  | $ | 246,050 |  |  | $ | (218,800 | )
The Company is subject to federal and state taxes. Reconciliations of the Company’s effective income tax rate to the federal statutory rate for the years ended December 31 are as follows: Schedule of Reconciliation of Income Tax Rate
|  | 2021 |  |  | 2020 |
Federal income tax expense at the statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 3.1 | % |  |  | 5.5 | %
Research credits |  |  | -5.5 | % |  |  | 0.0 | %
Permanent differences |  |  | 0.2 | % |  |  | 14.8 | %
True ups to tax return and other |  |  | 0.0 | % |  |  | -58.7 | %
PPP Loan Forgiveness |  |  | -9.9 | % |  |  | 0.0 | %
Change in valuation allowance |  |  | 0.0 | % |  |  | 0.0 | %
Provision (benefit) for income taxes |  |  | 8.9 | % |  |  | -17.4 | %
The benefit for income taxes increased in 2020 from a true-up of the deferred tax asset and temporary timing differences in deferred revenue, reserves, depreciation and amortization, and net operating loss carryforward, offset by an adjustment for taxes prepaid and refunded from prior year tax over payments.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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