XML 45 R21.htm IDEA: XBRL DOCUMENT v3.3.0.814

Note 9 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Notes Tables

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

		Nine Months Ended September 30,
		2015				2014
Current:
Federal		$	1,043,650			$	281,748
State			15,859				25,572
Total Current Provision			1,059,509				307,320
Deferred:
Federal		$	(331,750	)		$	(191,472	)
State			----				381,345
Total deferred			(331,750	)			189,873
Income tax expense/(benefit)		$	727,759			$	497,193

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

		Nine Months Ended
		September 30,
		2015				2014
Income tax benefit at federal statutory rate [34%]		$	1,204,274			$	438,244
Change in capitalized inventory (Section 263A)			--				3,159
Change in other accruals			32,217				(27,936	)
Difference between tax and book depreciation			(24,312	)			(91,385	)
Stock-based compensation			(39,234	)			(97,041	)
Research and development credits			(973,649	)			(109,193	)
Domestic production activities deduction			(109.989	)			--
Net operating loss carryforward			954,581				--
Tax carryback			(511,158	)			--
Provision to 2014 tax return true up			195,029				--
Impact of New York State taxation change			--				381,345
Income tax expense		$	727,759			$	497,193

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://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 9



-URI http://asc.fasb.org/extlink&oid=6907707&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 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://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 12



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration