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Note 10 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2018

Notes Tables

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

		Nine Months Ended September 30,
		2018				2017
Current:
Federal		$	---			$	1,195,528
State			---				11,580
Total Current Provision							1,207,108
Deferred:
Federal		$	(315,922	)		$	559,123
State			----				----
Total deferred			(315,922	)			559,123
Income tax (benefit)/expense		$	(315,922	)		$	1,766,231

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

		Nine Months Ended
		September 30,
		2018				2017
Income tax (benefit)/expense at federal statutory rate [21%-2018; 34%-2017]		$	(652,837	)		$	2,075,004
Change in other accruals			45,540				90,781
Difference between tax and book depreciation			89,558				(201,847	)
Stock-based compensation			201,817				(197,707	)
Income tax (benefit)/expense		$	(315,922	)		$	1,766,231

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

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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

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- References

No definition available.

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