Note 4 - Income Tax Matters

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note

4

– Income Tax Matters

At

March 31, 2019,

we estimated our annual effective tax rate for

2019

to be

31%.

We recognized a tax expense of

$36,835

for the

three

months ended

March 31, 2019.

At

March 31, 2019,

the difference from the statutory federal income tax rate is attributable to state income taxes and certain permanent book-tax differences.

The Company conducts an on-going analysis to review its net deferred tax asset and the need for a related valuation allowance. As a result of this analysis and the actual results of operations, the Company has increased its net deferred tax assets by $(

3,084

) and $(

9,901

) during the

three

months ended

March 31, 2019

and

2018,

respectively. The change in deferred tax assets is attributable to the changes in various book/tax differences.