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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Deferred Tax Assets and Liabilities | 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 |
Schedule of Significant Components of Income Tax Provision | 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 | )
Schedule of Reconciliation of Income Tax Rate | 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 | %

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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