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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Provision (Benefit) | The income tax provision (benefit) for federal, foreign, and state income taxes in the consolidated statements of operations consisted of the following components for 2021 and 2020:
|  | 2021 |  |  | 2020 |
Income tax provision (benefit): |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 54,487 |  |  | $ | (104,437 | )
State |  |  | 3,825 |  |  |  | - |
Total current Federal and State tax benefit |  | $ | 58,312 |  |  | $ | (104,437 | )
Deferred: |  |  |  |  |  |  |  |
Federal |  | $ | 417,477 |  |  | $ | (521,776 | )
State |  |  | (18,920 | ) |  |  | (15,601 | )
Total Deferred Federal and State |  |  | 398,557 |  |  |  | (537,377 | )
Total income tax (benefit) provision |  | $ | 456,869 |  |  | $ | (641,814 | )
Schedule of Income (Loss) Before Income Tax | The United States and foreign components of income (loss) before income taxes are as follows:
|  | 2021 |  |  | 2020 |
United States |  | $ | 1,922,947 |  |  | $ | (3,765,272 | )
Foreign |  |  | 706,287 |  |  |  | 266,458 |
|  | $ | 2,629,234 |  |  | $ | (3,498,814 | )
Schedule of Difference Between Actual Tax Expenses and Expected Tax Expenses | The actual tax provision differs from the “expected” tax for the years ended March 31, 2021 and 2020 (computed by applying the U.S. Federal Corporate tax rate of 21 percent to income before taxes) as follows:
|  | 2021 |  |  | 2020 |
Expected tax provision (benefit) |  | $ | 551,982 |  |  | $ | (734,751 | )
State income taxes, net of Federal income tax provision (benefit) |  |  | 128,699 |  |  |  | (175,245 | )
Permanent differences |  |  | (6,578 | ) |  |  | 9,977 |
Tax rate differential on foreign earnings |  |  | (108,690 | ) |  |  | - |
Change in valuation allowance |  |  | (65,193 | ) |  |  | 87,842 |
Effect of IRC §382 on NOL |  |  | - |  |  |  | 100,966 |
Tax rate differential on NOL carryback |  |  | - |  |  |  | 16,263 |
Correction of state rate |  |  | - |  |  |  | 83,803 |
Other |  |  | (43,351 | ) |  |  | (30,669 | )
Actual tax provision (benefit) |  | $ | 456,869 |  |  | $ | (641,814 | )
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are as follows:
|  | 2021 |  |  | 2020 |
NOL Federal Carryforward |  | $ | 246,769 |  |  | $ | 312,430 |
State NOL Carryforward |  |  | 194,388 |  |  |  | 157,967 |
General business credit |  |  | - |  |  |  | 14,196 |
Inventory differences |  |  | 348,921 |  |  |  | 303,529 |
Stock option compensation expense |  |  | 115,730 |  |  |  | 128,220 |
Allowance for doubtful accounts |  |  | 35,877 |  |  |  | 143,748 |
Insurance contingency |  |  | - |  |  |  | 220,425 |
Reserve for estimated returns |  |  | 111,887 |  |  |  | 112,537 |
Accrued vacation |  |  | 13,186 |  |  |  | 42,928 |
Business interest deduction |  |  | - |  |  |  | 55,978 |
|  |  | 1,066,758 |  |  |  | 1,491,958 |
Less: valuation allowance |  |  | 22,649 |  |  |  | 87,842 |
|  |  | 1,044,109 |  |  |  | 1,404,116 |
Depreciable and amortizable assets |  |  | (119,242 | ) |  |  | (82,512 | )
Prepaid expenses |  |  | (37,703 | ) |  |  | (35,883 | )
Net deferred tax liabilities |  |  | (156,945 | ) |  |  | (118,395 | )
Net deferred tax asset |  | $ | 887,164 |  |  | $ | 1,285,721 |

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