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9. INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Taxes Tables |
Provision for income taxes |
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |
Current tax expense |  |  |  |  |  |
Federal |  | $ | 406,889 |  |  | $ | 581,483 |
State |  |  | 114,820 |  |  |  | 123,458 |
|  |  | 521,709 |  |  |  | 704,941 |
Deferred tax expense (benefit) |  |  |  |  |  |  |  |
Federal |  |  | 331,796 |  |  |  | (45,512 | )
State |  |  | 51,204 |  |  |  | (5,488 | )
|  |  | 383,000 |  |  |  | (51,000 | )
Total |  | $ | 904,709 |  |  | $ | 653,941 |
Effective income tax rate differs from the federal statutory rate |
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |
Federal statutory rate |  |  | 34.00 | % |  |  | 34.00 | %
State taxes, net of federal benefit |  |  | 5.25 | % |  |  | 4.10 | %
Permanent differences |  |  | -1.36 | % |  |  | -1.96 | %
Other, primarily prior years |  |  | 0.97 | % |  |  | -0.94 | %
|  |  | 38.9 | % |  |  | 35.2 | %
Deferred tax assets and (liabilities) |
|  | 2013 |  |  | 2012 |
Accounts receivable |  | $ | 6,000 |  |  | $ | 5,000 |
Deferred gain on sale-leaseback |  |  | 73,000 |  |  |  | 83,000 |
Stock compensation |  |  | - |  |  |  | 11,000 |
Other |  |  | 95,000 |  |  |  | 53,000 |
Net current deferred tax assets |  |  | 174,000 |  |  |  | 152,000 |
Prepaids |  |  | (38,000 | ) |  |  | (34,000 | )
Depreciation |  |  | (1,066,000 | ) |  |  | (883,000 | )
Inventory |  |  | (507,000 | ) |  |  | (289,000 | )
Net noncurrent deferred tax liability |  |  | (1,611,000 | ) |  |  | (1,206,000 | )
Net deferred tax liability |  | $ | (1,437,000 | ) |  | $ | (1,054,000 | )

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- 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
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