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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME TAXES |
Schedule of provision (benefit) for income taxes | The provision (benefit) for income taxes consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Years Ended December 31,
​ |  | 2022 |  | 2021 |  | 2020
Current tax provision (benefit) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 1,448,000 | ​ | $ | 20,041,644 | ​ | $ | 4,431,590
State | ​ |  | (8,711,302) | ​ |  | 8,079,555 | ​ |  | 2,049,850
Total current provision (benefit) | ​ |  | (7,263,302) | ​ |  | 28,121,199 | ​ |  | 6,481,440
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax provision (benefit) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 3,717,559 | ​ |  | (6,719,211) | ​ |  | (3,428,399)
State | ​ |  | 3,629,613 | ​ |  | (2,515,418) | ​ |  | (1,202,807)
Total deferred tax provision (benefit) | ​ |  | 7,347,172 | ​ |  | (9,234,629) | ​ |  | (4,631,206)
Total income tax provision | ​ | $ | 83,870 | ​ | $ | 18,886,570 | ​ | $ | 1,850,234
​
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities | Deferred taxes are provided for those items reported in different periods for income tax and financial reporting purposes. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2022 |  | 2021
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​
Net operating loss carry forwards | ​ | $ | 5,053,102 | ​ | $ | 130,643
Accrued expenses and reserves | ​ |  | 713,429 | ​ |  | 1,298,083
Employee stock option expense | ​ |  | — | ​ |  | 958,530
Nonemployee stock option expense | ​ | ​ | — | ​ | ​ | 8,887
Inventories | ​ |  | 159,405 | ​ |  | 118,201
Deferred income – TIA contract | ​ | ​ | 15,860,880 | ​ | ​ | 18,199,768
Capital loss | ​ | ​ | 67,962 | ​ | ​ | —
Interest expense limitation | ​ | ​ | 24,572 | ​ | ​ | —
Deferred tax assets | ​ |  | 21,879,350 | ​ |  | 20,714,112
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gains/losses | ​ | ​ | (1,028,232) | ​ | ​ | (665,960)
Property, plant, and equipment | ​ |  | (14,049,742) | ​ |  | (6,182,318)
Deferred tax liabilities | ​ |  | (15,077,974) | ​ |  | (6,848,278)
Net deferred assets | ​ |  | 6,801,376 | ​ |  | 13,865,834
Valuation allowance | ​ |  | (282,713) | ​ |  | —
Net deferred tax assets | ​ | $ | 6,518,663 | ​ | $ | 13,865,834
​
Schedule of reconciliation of the federal statutory corporate tax rate to the Company's effective tax rate | A reconciliation of the federal statutory corporate tax rate to the Company’s effective tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, |
​ |  | ​ | 2022 |  | 2021 |  | 2020 |
U.S. statutory federal tax rate |  |  | 21.0 | % | 21.0 | % | 21.0 | %
State tax, net of federal tax |  |  | 1.0 |  | 6.4 |  | 4.2 |
Change in valuation allowance |  |  | 5.5 |  | — |  | (19.2) |
Valuation Allowance |  |  | 4 |  | — |  | (0.6) |
Stock options | ​ | ​ | 41.7 | ​ | (0.1) | ​ | — | ​
State rate change | ​ | ​ | (75.1) | ​ | — | ​ | — | ​
PPP loan | ​ | ​ | — | ​ | (0.4) | ​ | — | ​
Return-to-provision and other |  |  | 3.7 |  | (1.7) |  | 1.7 |
Effective tax rate |  |  | 1.6 | % | 25.2 | % | 7.1 | %
​ During 2022, the Company engaged tax consultants to perform a nexus study in order to determine if its activities in certain states were subject to previously estimated tax liabilities. As a result of the study, the Company determined that its activities in those states are protected by P.L. 86-272 and revised its estimates for state taxes. The Company has further determined that it is more likely than not that the various state jurisdictions will agree that the Company’s activities are protected under P.L. 86-272 and the revised estimates for refund applications are appropriate. ​

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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