XML 47 R34.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The income tax provisions are comprised of the following:
|  | Dec. 31 2015 |  | Dec. 31 2014 |
Current: |  |  |  |  |  |  |
Federal |  | $ | 6,516 |  | $ | - |
State |  |  | 4,200 |  |  | 94,371 |
Foreign |  |  | 374,071 |  |  | 578,798 |
|  | $ | 384,787 |  | $ | 673,169 |
Deferred |  |  |  |  |  |  |
Federal |  | $ | (63,433) |  | $ | (550,089) |
State |  |  | - |  |  | - |
Foreign |  |  | 48,242 |  |  | 66,887 |
|  |  | (15,191) |  |  | (483,202) |
Total Income Tax Provision |  | $ | 369,596 |  | $ | 189,967 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The components of the net deferred tax asset at December 31 are as follows:
|  | 2015 |  | 2014 |
Deferred tax assets: |  |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 21,150 |  | $ | 69,898 |
Inventory allowances |  |  | 314,101 |  |  | 246,425 |
Accrued liabilities |  |  | 372,172 |  |  | 282,055 |
Unicap 263A adjustment |  |  | 170,765 |  |  | 157,240 |
Net operating loss carryforwards |  |  | 511,403 |  |  | 685,322 |
Alternative minimum tax credit carryforwards |  |  | - |  |  | 398,162 |
State investment tax credit carryforward |  |  | 22,448 |  |  | 10,912 |
Foreign tax credit carryforward |  |  | 916,121 |  |  | 696,509 |
Other foreign tax items |  |  | 44,394 |  |  | 50,747 |
Foreign net operating loss carryforwards |  |  | 424,164 |  |  | 466,053 |
Total deferred tax assets |  |  | 2,796,718 |  |  | 3,063,323 |
Deferred tax liabilities: |  |  |  |  |  |  |
Tax over book basis of capital assets |  |  | (1,004,437) |  |  | (1,083,852) |
Undistributed Earnings from Subsidiaries |  |  | - |  |  | (247,385) |
Other foreign tax items |  |  | - |  |  | - |
Net deferred tax assets before valuation allowance |  | $ | 1,792,281 |  | $ | 1,732,086 |
Less: Valuation allowance |  |  | (45,000) |  |  | - |
Net deferred tax assets |  |  | 1,747,281 |  |  | 1,732,086 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Income tax provisions differed from the taxes calculated at the statutory federal tax rate as follows:
|  | Years Ended December 31, |
|  | 2015 |  | 2014 |
Taxes at statutory rate |  | $ | 444,471 |  | $ | 183,344 |
State income taxes |  |  | 66,867 |  |  | 27,583 |
Nondeductible expenses |  |  | 46,523 |  |  | 59,129 |
Foreign taxes and other |  |  | (188,266) |  |  | (80,089) |
Income tax provision |  | $ | 369,596 |  | $ | 189,967 |

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://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 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://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 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://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=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration