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Income Taxes | 12 Months Ended
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Feb. 29, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | NOTE 11: INCOME TAXES The annual provision (benefit) for income taxes differs from amounts computed by applying the maximum U.S. Federal income tax rate of 21% to pre-tax income as follows:
|  | February 29, 2020 |  |  | February 28, 2019 |
Expected federal income tax |  | $ | 254,898 |  |  | $ | 38,101 |
State tax, net of federal |  |  | 19,758 |  |  |  | 11,430 |
Research and development tax credits |  |  | (213,521 | ) |  |  | (19,588 | )
Permanent timing difference |  |  | 29,632 |  |  |  | 2,272 |
Change in valuation allowances |  |  | 15,238 |  |  |  | (36,425 | )
Other adjustments |  |  | — |  |  |  | 24,057 |
Income tax expense |  | $ | 106,005 |  |  | $ | 19,847 |
The deferred tax asset and liability are comprised of the following:
|  | February 29, 2020 |  |  | February 28, 2019 |
Deferred tax asset |  |  |  |  |  |  |  |
Inventory |  | $ | 41,000 |  |  | $ | 74,000 |
Allowance for accounts receivable |  |  | 15,000 |  |  |  | 13,000 |
Accrued expenses and other |  |  | 94,000 |  |  |  | 37,000 |
Research tax credits |  |  | 27,000 |  |  |  | 208,000 |
Deferred tax asset – Long Term |  |  | 177,000 |  |  |  | 332,000 |
Deferred tax liability |  |  |  |  |  |  |  |
Intangible asset amortization |  |  | — |  |  |  | (25,000 | )
Building and leasehold depreciation |  |  | (252,000 | ) |  |  | (346,000 | )
Deferred tax liability – Long Term |  | $ | (252,000 | ) |  | $ | (371,000 | )
Deferred income taxes have been provided by temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. To the extent allowed by GAAP, the Company provides a valuation allowance against the deferred tax assets for amounts when the realization is uncertain. Tax returns for the prior three years are subject to examination by the IRS.

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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=84230637&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=116825942&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=84230637&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=116825942&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=84230637&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 + Details
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