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12. INCOME TAXES: Schedule of Income Tax Rate Reconciliation (Tables)
 12 Months Ended
Dec. 31, 2020
Tables/Schedules  
Schedule of Income Tax Rate Reconciliation

 

                                                             

 

    2020    

 

    2019    

 

    2018    

Statutory Federal income tax rate

 

21.0%

 

21.0%

 

21.0%

Tax Reform Act Impact

 

-   

 

-   

 

-   

Tax effect of S corporation status

 

1.0   

 

6.7   

 

(.4)  

Tax exempt income

 

(5.5)  

 

(6.4)  

 

(5.1)  

Miscellaneous

 

1.1   

 

.8   

 

.1   

Effective Tax Rate  

 

17.6%

 

22.1%

 

15.6%