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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

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

The components of the provision for income taxes as of December 31, 2017, 2016 and 2015 consist of the following:

		YEARS ENDED DECEMBER 31,
		2017			2016			2015
Current:
Federal		$	55,000		$	24,000		$	35,000
State			109,000			146,000			103,000
Total current			164,000			170,000			138,000
Deferred:
Federal			(1,335,000)			680,000			353,000
State			68,000			93,000			(57,000)
Total deferred			(1,267,000)			773,000			296,000
		$	(1,103,000)		$	943,000		$	434,000

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company’s deferred tax liabilities and assets as of December 31, 2017 and 2016 are as follows:

		DECEMBER 31,
		2017			2016
Deferred tax liabilities:
Property and equipment		$	(5,009,000)		$	(7,595,000)
Total deferred tax liabilities			(5,009,000)			(7,595,000)
Deferred tax assets:
Net operating loss carryforwards			1,421,000			2,783,000
Accruals and allowances			157,000			193,000
Tax credits			438,000			380,000
Other – net			186,000			200,000
Capital loss carryover			959,000			1,228,000
Total deferred tax assets			3,161,000			4,784,000
Valuation allowance			(1,062,000)			(1,365,000)
Deferred tax assets net of valuation allowance			2,099,000			3,419,000
Net deferred tax liabilities		$	(2,910,000)		$	(4,176,000)

Condensed Financial Statements [Table Text Block]

These amounts are presented in the financial statements as follows:

		DECEMBER 31,
		2017			2016
Deferred income taxes (non-current)		$	(2,910,000)		$	(4,176,000)
		$	(2,910,000)		$	(4,176,000)

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

The (benefit) provision for income taxes differs from the amount computed by applying the U.S. federal statutory tax rate (34% in 2017, 2016 and 2015) to income before taxes as follows:

 

		YEARS ENDED DECEMBER 31,
		2017			2016			2015
Computed expected federal income tax		$	279,000		$	637,000		$	(360,000)
State income taxes, net of federal benefit			28,000			169,000			(55,000)
Non-deductible expenses			41,000			42,000			40,000
Impact of US Tax Reform			(1,546,000)			-			-
Change in valuation allowance			180,000			25,000			792,000
Other			(85,000)			70,000			17,000
		$	(1,103,000)		$	943,000		$	434,000

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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=84230637&loc=d3e32639-109319

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Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows.

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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=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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