XML 31 R16.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Taxes | Note 10 - Income Taxes The provision for income taxes consists of the following (in thousands): Schedule of Provision for Income Taxes
|  | 2021 |  |  | 2020 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
Current income tax expense: |  |  |  |  |  |
International |  | $ | 5 |  |  | $ | 8 |
Federal |  |  | 534 |  |  |  | 398 |
State |  |  | 140 |  |  |  | 79 |
Total current income tax expense |  |  | 679 |  |  |  | 485 |
Deferred income tax benefit: |  |  |  |  |  |  |  |
Federal |  |  | (17 | ) |  |  | (20 | )
State |  |  | (3 | ) |  |  | (3 | )
Total deferred income tax benefit |  |  | (20 | ) |  |  | (23 | )
Total income tax expense |  | $ | 659 |  |  | $ | 462 |
Where Food Comes From, Inc. Notes to the Consolidated Financial Statements The reconciliation of income taxes calculated at the statutory rates to our effective tax rate is as follows (in thousands): Schedule of Reconciliation of Income Taxes
|  | 2021 |  |  | 2020 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
Expected tax expense |  | $ | 759 |  |  | $ | 388 |
State tax provision, net |  |  | 141 |  |  |  | 66 |
Permanent differences |  |  | 4 |  |  |  | 8 |
Foreign |  |  | 40 |  |  |  | 36 |
Stock options |  |  | (38 | ) |  |  | - |
PPP loan forgiveness |  |  | (253 | ) |  |  | - |
Other, net |  |  | 6 |  |  |  | (36 | )
Total income tax expense |  | $ | 659 |  |  | $ | 462 |
The income tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are as follows (in thousands): Schedule of Deferred Tax Assets (Liabilities)
|  | 2021 |  |  | 2020 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
Deferred tax assets (liabilities): |  |  |  |  |  |
Accruals and other |  | $ | 96 |  |  | $ | 90 |
Stock based compensation |  |  | 145 |  |  |  | 127 |
Property and equipment |  |  | (35 | ) |  |  | (85 | )
Intangibles assets |  |  | 258 |  |  |  | 311 |
Net deferred tax assets |  |  | 464 |  |  |  | 443 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration