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Note E - Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2025
Notes to Financial Statements |
Income Tax Disclosure [Text Block] | NOTE E – INCOME TAXES The provision for income taxes consists of the following:
|  | Years ended December 31, |
Current |  | 2025 |  |  | 2024 |
Federal |  | $ | 153,821 |  |  | $ | 981,244 |
State |  |  | 813 |  |  |  | 805 |
Total current provision for income taxes |  |  | 154,634 |  |  |  | 982,049 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 382,643 |  |  |  | (124,467 | )
Total deferred expense (benefit) from income taxes |  |  | 382,643 |  |  |  | (124,467 | )
Total provision for income taxes |  | $ | 537,277 |  |  | $ | 857,582 |
The following is a reconciliation of the Company’s effective income tax rate to the Federal statutory rate:
|  | Years ended December 31, |
|  | 2025 |  |  | 2024 |
|  |  | ($) |  |  | Tax rate |  |  |  | ($) |  |  | Tax rate |
Income taxes at statutory federal income tax rate |  | $ | 555,033 |  |  |  | 21.0 | % |  | $ | 862,776 |  |  |  | 21.0 | %
State taxes, net of federal benefit |  |  | 642 |  |  |  | --- |  |  |  | 636 |  |  |  | --- |
Research & development credits |  |  | (10,000 | ) |  |  | (0.4 | ) |  |  | (9,000 | ) |  |  | (0.1 | )
Non-taxable dividends |  |  | (4,441 | ) |  |  | (0.2 | ) |  |  | --- |  |  |  | --- |
(Over) under accrual from prior year |  |  | (3,957 | ) |  |  | (0.1 | ) |  |  | 3,170 |  |  |  | --- |
Provision for income taxes |  | $ | 537,277 |  |  |  | 20.3 | % |  | $ | 857,582 |  |  |  | 20.9 | %
The tax effects of temporary differences which comprise the deferred tax assets and liabilities are as follows:
|  | December 31, |
|  | 2025 |  |  | 2024 |
Deferred tax assets |  |  |  |  |  |  |  |
Allowance for credit losses |  | $ | 3,605 |  |  | $ | 3,012 |
Inventories |  |  | 6,720 |  |  |  | 6,886 |
Accounts payable |  |  | 100,966 |  |  |  | 89,251 |
R&D expenses |  |  | --- |  |  |  | 206,069 |
Accrued expenses |  |  | 243,493 |  |  |  | 306,381 |
Total deferred tax assets |  | $ | 354,784 |  |  | $ | 611,599 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Accounts receivable |  |  | (336,852 | ) |  |  | (302,987 | )
Prepaid expenses |  |  | (57,682 | ) |  |  | (58,171 | )
Depreciation on property, plant and equipment |  |  | (153,879 | ) |  |  | (68,959 | )
Unrealized gain on marketable securities |  |  | (13,617 | ) |  |  | (6,085 | )
Total deferred tax liabilities |  |  | (562,030 | ) |  |  | (436,202 | )
Net deferred tax (liability) asset |  | $ | (207,246 | ) |  | $ | 175,397 |
On July 4, 2025, H.R. 1, also known as the One Big Beautiful Bill Act (OBBBA), was signed into law. The OBBBA includes, among other provisions, changes to United States corporate income tax law, including restoration of accelerated depreciation on capital expenditures, deductible research and development expenses, and modifications to the international tax framework. The OBBBA has multiple effective dates, with certain provisions effective in the current fiscal year and others effective in future fiscal years. The Company has estimated the tax effects of OBBBA, which did not have a material impact on its financial statements during the current period, while providing cash tax benefits in the current fiscal year due to accelerated tax deductions.

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