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Income Taxes | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
Income Taxes | Note 12. Income Taxes The components of the income tax provision are as follows:
|  | Years Ended December 31 |
|  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 201 |  |  | $ | 19 |
State |  |  | 1 |  |  |  | 1 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | (99 | ) |  |  | (48 | )
State |  |  | 0 |  |  |  | 0 |
Total Federal and State Income Taxes |  | $ | 103 |  |  | $ | (28 | )
The provision for income taxes differs from the amount obtained by applying the U.S. federal income tax rate to pretax income due to the following:
|  | Years Ended December 31 |
|  | 2023 |  |  | 2022 |
Computed “Expected” Federal Tax Expense |  | $ | 79 |  |  | $ | 15 |
Increase (Decrease) in Taxes Resulting From: |  |  |  |  |  |  |  |
State Income Taxes, net of Federal Benefit |  |  | 1 |  |  |  | 1 |
R&D Credits |  |  | (63 | ) |  |  | 0 |
Permanent Differences |  |  | 4 |  |  |  | 2 |
Other |  |  | 82 |  |  |  | (46 | )
Total Federal and State Income Taxes |  | $ | 103 |  |  | $ | (28 | )
The components of the net deferred tax asset consist of:
|  | December 31 |
|  | 2023 |  |  | 2022 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Vacation accrual |  | $ | 26 |  |  | $ | 25 |
Allowance for credit losses |  |  | 2 |  |  |  | 2 |
Stock compensation |  |  | 6 |  |  |  | 91 |
Bonus |  |  | 2 |  |  |  | 11 |
Depreciation and amortization |  |  | 71 |  |  |  | 94 |
Inventory obsolescence |  |  | 2 |  |  |  | 2 |
R&D expenses |  |  | 273 |  |  |  | 0 |
R&D credit carryforward |  |  | 279 |  |  |  | 313 |
Valuation allowance |  |  | (279 | ) |  |  | (252 | )
Total Deferred Tax Assets |  |  | 382 |  |  |  | 286 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Prepaid expenses |  |  | 27 |  |  |  | 30 |
Total Deferred Tax Liabilities |  |  | 27 |  |  |  | 30 |
Net Deferred Tax Asset |  | $ | 355 |  |  | $ | 256 |
R&D credits can be carried forward for twenty years for federal purposes and fifteen years in Minnesota. The Company is materially subject to the following taxing jurisdictions: U.S. and Minnesota. The tax years 2020 through 2022 remain open to examination by the Internal Revenue Service and state jurisdictions. We have no accrued interest or penalties related to uncertain tax positions as of January 1, 2023 or December 31, 2023 and uncertain tax positions are not significant.

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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 -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
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