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9. INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes Tables |
Provision for income taxes |
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |
Current tax expense: |  |  |  |  |  |
Federal |  | $ | 663,096 |  |  | $ | 406,889 |
State (includes Mult/PDX) |  |  | 132,903 |  |  |  | 114,820 |
|  |  | 795,999 |  |  |  | 521,709 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |
Federal |  |  | (18,087 | ) |  |  | 331,796 |
State |  |  | (1,913 | ) |  |  | 51,204 |
|  |  | (20,000 | ) |  |  | 383,000 |
Total |  | $ | 775,999 |  |  | $ | 904,709 |
Effective income tax rate differs from the federal statutory rate |
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |
Federal statutory rate |  |  | 34.00 | % |  |  | 34.00 | %
State taxes, net of federal benefit |  |  | 3.60 | % |  |  | 5.25 | %
Permanent differences |  |  | -1.70 | % |  |  | -1.36 | %
Tax credits |  |  | -5.74 | % |  |  | - |
Prior year adjustments |  |  | -2.42 | % |  |  | -0.46 | %
Changes in tax rates and other |  |  | -1.32 | % |  |  | 1.43 | %
|  |  | 26.4 | % |  |  | 38.9 | %
Deferred tax assets and (liabilities) |
|  | 2014 |  |  | 2013 |
Accounts receivable |  | $ | 4,000 |  |  | $ | 6,000 |
Deferred gain on sale-leaseback |  |  | 58,000 |  |  |  | 73,000 |
Stock compensation |  |  | 21,000 |  |  |  | - |
Other |  |  | 148,000 |  |  |  | 95,000 |
Net current deferred tax assets |  | $ | 231,000 |  |  | $ | 174,000 |
Prepaids |  |  | (54,000 | ) |  |  | (38,000 | )
Depreciation |  |  | (1,273,000 | ) |  |  | (1,066,000 | )
Inventory |  |  | (321,000 | ) |  |  | (507,000 | )
Net noncurrent deferred tax liability |  |  | (1,648,000 | ) |  |  | (1,611,000 | )
Net deferred tax liability |  | $ | (1,417,000 | ) |  | $ | (1,437,000 | )

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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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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