XML 73 R28.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
INCOME TAXES |
Schedule of pre-tax income from continuing operations on which the provision for income taxes | The pre-tax income from continuing operations on which the provision for income taxes was computed is as follows (in thousands):
|  | 2019 |  | 2018
United States |  | $ | 11,964 |  | $ | 10,237
Foreign |  |  | (23) |  |  | (21)
Total |  |  | 11,941 |  |  | 10,216
Schedule of income tax expense | Income tax expense consists of the following for the years ended December 31, 2019 and 2018 (in thousands):
|  | 2019 |  | 2018
Current tax expense: |  |  |  |  |  |
Federal |  | $ | 1,865 |  | $ | 1,080
State |  |  | 372 |  |  | 309
Total tax expense: |  |  | 2,237 |  |  | 1,389
Deferred tax expense/(benefit): |  |  |  |  |  |
Federal |  |  | 120 |  |  | (462)
State |  |  | 92 |  |  | (263)
Total deferred tax expense/(benefit): |  | $ | 212 |  | $ | (725)
Total |  | $ | 2,449 |  | $ | 664
Schedule of reconciliation of income tax | A reconciliation of income tax computed at the U.S. statutory rate of 21% to the effective income tax rate is as follows:
|  | 2019 |  | 2018 |
Statutory rate |  | 21 | % | 21 | %
State taxes |  | 3 |  | 4 |
Permanent differences and other |  | — |  | 1 |
Change in valuation allowance |  | (1) |  | (16) |
Stock based compensation |  | (4) |  | (3) |
Other (true – up) |  | 1 |  | — |
Effective rate |  | 20 | % | 7 | %
Schedule of tax effects of temporary differences that give rise to deferred tax assets (liabilities) | The tax effects of temporary differences that give rise to deferred tax assets (liabilities) at December 31, 2019 and 2018 are as follows (in thousands):
|  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |
Accrued expenses |  | $ | 34 |  | $ | 37
Lease liability |  |  | 1,109 |  |  | 217
Accounts receivable |  |  | 19 |  |  | 18
Inventory |  |  | 232 |  |  | 117
Stock-based compensation |  |  | 145 |  |  | 138
Tax Credits and NOL Carryforward |  |  | 110 |  |  | 354
Other |  |  | 1 |  |  | 150
Property and equipment |  |  | — |  |  | —
Amortization |  |  | 50 |  |  | 57
|  |  | 1,700 |  |  | 1,088
Less: Valuation allowance |  |  | — |  |  | (172)
Deferred tax assets |  | $ | 1,700 |  | $ | 916
Deferred tax liabilities: |  |  |  |  |  |
Property and equipment |  | $ | (192) |  | $ | (176)
Finance lease |  |  | (45) |  |  | —
Right-of-use asset |  |  | (946) |  |  | —
Prepaid expenses |  |  | (4) |  |  | (15)
Deferred tax liabilities |  | $ | (1,187) |  | $ | (191)
Net deferred tax assets |  | $ | 513 |  | $ | 725

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 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=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration