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Income Taxes | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Taxes | Note 12 – Income Taxes The components of the provision for income taxes consists of the following for the years ended December 31, 2021 and 2020: Schedule of Components Income Tax Provision
|  | 2021 |  |  | 2020 |
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 6,092,730 |  |  | $ | - |
State |  |  | 886,173 |  |  |  | 637,760 |
Total current |  | $ | 6,978,903 |  |  | $ | 637,760 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 1,394,686 |  |  |  | (452,544 | )
State |  |  | 603,642 |  |  |  | (94,680 | )
Total deferred |  |  | 1,998,328 |  |  |  | (547,224 | )
Total income tax expense |  | $ | 8,977,231 |  |  | $ | 90,536 |
A reconciliation of income tax expense at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows: Schedule of Benefit from Income Taxes and Effective Tax Rates
|  | 2021 |  |  | 2020 |
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Federal income tax expense at statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State income tax expense, net of federal tax benefit |  |  | 3.9 |  |  |  | 3.3 |
Permanent differences: |  |  |  |  |  |  |  |
- Foreign derived intangible income deduction |  |  | (3.5) |  |  |  | (1.7) |
- Stock based compensation |  |  | 0.2 |  |  |  | (8.8) |
- Other permanent differences |  |  | 0.3 |  |  |  | (0.4) |
Research and development credits |  |  | (2.6) |  |  |  | (2.0) |
Change in uncertain tax positions |  |  | 1.4 |  |  |  | 1.1 |
Change in valuation allowance |  |  | 0.0 |  |  |  | (12.1) |
Other |  |  | (1.0) |  |  |  | (0.2) |
Effective income tax rate |  |  | 19.7 | % |  |  | 0.2 | %
Net deferred tax assets consist of the following components as of December 31, 2021 and 2020: Schedule of Deferred Tax Assets
|  | 2021 |  |  | 2020 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | - |  |  | $ | 37,898 |
Reserves and allowances |  |  | 166,050 |  |  |  | 200,049 |
Deferred compensation |  |  | 393,871 |  |  |  | 241,652 |
Research and development credits |  |  | - |  |  |  | 423,001 |
Total deferred tax assets |  |  | 559,921 |  |  |  | 902,600 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | (477,542 | ) |  |  | (233,951 | )
Intangibles, net |  |  | (6,743,972 | ) |  |  | - |
Prepaids |  |  | (560,093 | ) |  |  | (66,456 | )
Other |  |  | (6,758 | ) |  |  | (54,969 | )
Total deferred tax liabilities |  |  | (7,788,365 | ) |  |  | (355,376 | )
Net deferred tax assets (liabilities) |  |  | (7,228,444 | ) |  |  | 547,224 |
Less valuation allowance |  |  | - |  |  |  | - |
Net deferred tax assets (liabilities) |  | $ | (7,228,444 | ) |  | $ | 547,224 |
At December 31, 2021, the Company had no federal or state net operating loss carryforwards and no federal or state research and development credit carryforwards. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. As of December 31, 2020, in part because in that year the Company achieved three years of cumulative pre-tax income, management determined that there was sufficient positive evidence to conclude that it was more likely than not that its deferred taxes were realizable. The Company therefore fully reduced its valuation allowance accordingly by $5,161,500. ASC Topic 740-10-05 requires that the impact of a tax position be recognized in the financial statements if that position is more likely than not of being sustained on audit, based on the technical merits of the position. Our unrecognized tax benefit balances included $1,067,853 at December 31, 2021 and $447,831 at December 31, 2020 of tax positions that, if recognized, would impact our effective tax rate. The Company expects no material changes to the liability for unrecognized tax benefits in the next 12 months. Interest and penalties associated with uncertain tax positions are recorded as a component of income tax expense. A reconciliation of the beginning and ending amount of unrecognized benefits is as follows: Schedule of Unrecognized Tax Benefits
|  | December 31, |
|  | 2021 |  |  | 2020 |
Unrecognized tax benefits at the beginning of the year |  | $ | 447,831 |  |  | $ | - |
Gross increases - current year tax positions |  |  | 770,069 |  |  |  | 232,145 |
Gross increases - prior year tax positions |  |  | - |  |  |  | 215,686 |
Gross decreases - prior year tax positions |  |  | (150,047 | ) |  |  | - |
Unrecognized tax benefits at end of year |  | $ | 1,067,853 |  |  | $ | 447,831 |
Interest and penalties in year-end balance |  | $ | - |  |  | $ | - |
The Company is subject to taxation in the United States and other state jurisdictions. The tax years from December 31, 2017 through December 31, 2021 remain open to examination for federal income tax purposes and by the other major taxing jurisdictions to which the Company is subject. The Company is not currently under examination by any taxing authority.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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