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Income Taxes | 12 Months Ended
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Dec. 31, 2012
Income Taxes [Abstract] |
Income Taxes | Note 11. Income Taxes The components of the income tax provision for the years ended December 31, 2012 and 2011 are as follows:
|  | 2012 |  |  | 2011
Current: |  |  |  |  |  |  |
Federal |  | $ | 513,000 |  |  | $ | 179,000
State |  |  | 5,000 |  |  |  | 0
Deferred: |  |  |  |  |  |  |
Federal |  |  | 31,000 |  |  |  | 12,000
State |  |  | 7,000 |  |  |  | 2,000
Total Federal and State Income Taxes |  | $ | 556,000 |  |  | $ | 193,000
The provision for income taxes for the years ended December 31, 2012 and 2011 differs from the amount obtained by applying the U.S. federal income tax rate to pretax income due to the following:
|  | 2012 |  |  | 2011 |
Computed “Expected” Federal Tax Expense |  | $ | 560,000 |  |  | $ | 251,000 |
Increase (Decrease) in Taxes Resulting From: |  |  |  |  |  |  |  |
State Income Taxes, net of Federal Benefit |  |  | 26,000 |  |  |  | 12,000 |
Credits |  |  | (16,000) |  |  |  | (51,000) |
Domestic Production Activities Deduction |  |  | (20,000) |  |  |  | (22,000) |
Permanent Differences |  |  | 6,000 |  |  |  | 3,000 |
Total Federal and State Income Taxes |  | $ | 556,000 |  |  | $ | 193,000 |
The components of the net deferred tax liability consist of:
|  | 2012 |  |  | 2011 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Vacation Disallowance |  | $ | 26,000 |  |  | $ | 24,000 |
Allowance for Doubtful Accounts |  |  | 4,000 |  |  |  | 4,000 |
State Carryforward R&D Credit |  |  | 0 |  |  |  | 3,000 |
Total Deferred Tax Assets |  | $ | 30,000 |  |  | $ | 31,000 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Prepaid Expenses |  | $ | 23,000 |  |  | $ | 26,000 |
Depreciation |  |  | 100,000 |  |  |  | 60,000 |
Net Unrealized Gain on Investments |  |  | 1,362,000 |  |  |  | 1,170,000 |
Total Deferred Tax Liabilities |  | $ | 1,485,000 |  |  | $ | 1,256,000 |
Net Deferred Tax Liability |  | $ | (1,455,000) |  |  | $ | (1,225,000) |
The Company is subject to the following material taxing jurisdictions: U.S. and Minnesota. The tax years that remain open to examination by the Internal Revenue Service are 2009 through 2012. The tax years that remain open to examination by the Minnesota Department of Revenue are 2008 through 2012. We have no accrued interest or penalties related to uncertain tax positions as of January 1, 2012 or December 31, 2012.

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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/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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 Reference 7: 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=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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