XML 46 R36.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income taxes (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of provision for income tax |
Schedule of provision for income tax |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 1,705 |  |  | $ | 280,781 |  |  | $ | – |  |  | $ | 280,781 |
States |  |  | (904 | ) |  |  | (123 | ) |  |  | 11,566 |  |  |  | 9,799 |
Foreign |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Total current income tax provision |  |  | 801 |  |  |  | 280,658 |  |  |  | 11,566 |  |  |  | 290,580 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (555,981 | ) |  |  | (1,090,318 | ) |  |  | (840,629 | ) |  |  | (1,259,785 | )
States |  |  | (133,943 | ) |  |  | (203,562 | ) |  |  | (200,567 | ) |  |  | (306,707 | )
Foreign |  |  | 184 |  |  |  | (34,527 | ) |  |  | 64,809 |  |  |  | (219,633 | )
Total deferred taxes |  |  | (689,740 | ) |  |  | (1,328,407 | ) |  |  | (976,387 | ) |  |  | (1,786,125 | )
Total provision for income taxes |  | $ | (688,939 | ) |  | $ | (1,047,749 | ) |  | $ | (964,821 | ) |  | $ | (1,495,545 | )
Schedule of reconciliation of effective income tax rate |
Schedule of reconciliation of effective income tax rate |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Statutory tax rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 21.00% |  |  |  | 21.00% |  |  |  | 21.00% |  |  |  | 21.00% |
State |  |  | 5.82% |  |  |  | 5.85% |  |  |  | 5.82% |  |  |  | 5.85% |
Foreign tax rate difference |  |  | 0.35% |  |  |  | (0.33% | ) |  |  | 0.20% |  |  |  | 1.86% |
Impairment loss on goodwill -permanent difference |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (9.32% | )
Net effect of state income tax deduction and other permanent differences |  |  | (0.74% | ) |  |  | (2.38% | ) |  |  | (3.89% | ) |  |  | (2.72% | )
Effective tax rate |  |  | 26.43% |  |  |  | 24.14% |  |  |  | 23.13% |  |  |  | 16.67% |
Schedule of deferred taxes |
Schedule of deferred taxes |  |  |  |  |  |
|  | December 31, 2023 |  |  | June 30, 2023 |
Deferred tax assets |  |  |  |  |  |  |  |
263A calculation |  | $ | 183,268 |  |  | $ | 239,142 |
Inventory reserve |  |  | 209,655 |  |  |  | 149,907 |
State taxes |  |  | 2,619 |  |  |  | 2,435 |
Accrued expenses |  |  | 253,589 |  |  |  | 273,589 |
ROU assets / liabilities |  |  | 113,992 |  |  |  | 115,125 |
Net Operation loss |  |  | 3,002,627 |  |  |  | 2,173,221 |
Disallowed interest expense |  |  | 214,299 |  |  |  | 163,381 |
Stock-based compensation |  |  | 277,228 |  |  |  | 207,726 |
Valuation allowance |  |  | (66,104 | ) |  |  | – |
Others |  |  | 85,596 |  |  |  | 85,596 |
Total deferred tax assets |  |  | 4,276,769 |  |  |  | 3,410,122 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Depreciation |  |  | (91,944 | ) |  |  | (105,323 | )
Intangible assets acquired |  |  | (1,062,462 | ) |  |  | (1,149,549 | )
Total deferred tax liabilities |  |  | (1,154,406 | ) |  |  | (1,254,872 | )
Net deferred tax assets |  | $ | 3,122,363 |  |  | $ | 2,155,250 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration