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Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 25, 2021

Notes Tables

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

		2021				2020
Current:
Federal		$	--			$	(39,877	)
State			11,967				456
Current income tax provision (benefit):			11,967				(39,421	)
Deferred:
Federal			(2,156,278	)			33,873
State			(562,667	)			(3,000	)
Deferred income tax provision (benefit), net			(2,718,945	)			30,873
Total		$	(2,706,978	)		$	(8,548	)

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

		December 25, 2021				December 26, 2020
Deferred Tax Assets:
Net operating loss carryforwards		$	1,050,449			$	746,397
Stock compensation			157,845				540,281
Credit carryforwards			1,285,119				1,288,897
Inventory			77,563				116,153
Accrued liabilities			12,390				22,140
Depreciation			237,880				250,093
Other			2,732				2,732
Gross deferred tax assets			2,823,978				2,966,693
Valuation allowance			0				(2,849,693	)
Net deferred tax assets		$	2,823,978			$	117,000

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

		2021				2020
Gross deferred tax balance at beginning of year		$	2,966,693			$	3,321,611
Deferred tax benefit (provision)			(142,715	)			(354,918	)
Valuation allowance			0				(2,849,693	)
Balance at end of year, net		$	2,823,978			$	117,000

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

		2021				2020
Tax at statutory rate		$	106,869			$	188,899
State tax, net of federal benefit			36,301				360
Net operating loss and credit carryforwards			--				33,873
Valuation allowance			(2,849,693	)			(324,045	)
Other			(455	)			92,365
Total		$	(2,706,978	)		$	(8,548	)

X

- Definition

Tabular disclosure of the summary 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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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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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.

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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.

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