Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year			Year
	December 31, 2020			December 31, 2019
Income Before Provision for Income Taxes	$	7,475,241		$	9,419,490
Statutory rate		21	%		21	%
Tax at statutory rate		1,569,801			1,978,092
State taxes, net of federal benefit		336,654			551,179
Permanent differences		18,715			23,889
Return to Provision Adjustments		(289,316	)		(113,533	)
Provision for income taxes	$	1,635,854		$	2,439,627

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31, 2020			December 31, 2019
Inventories	$	179,171		$	164,768
Bad debts		5,009			4,659
Accrued liabilities		48,812			279,508
Prepaid expense		(92,571	)		(116,524	)
Depreciation and amortization		(2,757,740	)		(2,798,040	)
Research and development and other credit carryforwards		451,247			556,387
Right of use lease accounting		47,351			(19,600	)
Directors stock option plan		161,212			163,427
Total deferred tax liability		(1,957,509	)		(1,765,415	)
Valuation allowance		(47,319	)		(47,319	)
Reserve for uncertain tax positions		(425,000	)		(395,000	)
Total reserves & allowances		(472,319	)		(442,319	)
Net deferred tax liability, net of reserves	$	(2,429,828	)	$	(2,207,734	)

Summary of Operating Loss Carryforwards [Table Text Block]

Tax Year Expires	State NOLs		R& D & Other Credits
2021		-		3,000
2022		-		3,000
2023		-		3,000
2024		-		3,000
2025		-		3,000
2026		-		3,000
2027		-		3,000
2028		-		3,000
2029		191,519		3,000
2030		414,231		3,000
2031		641,229		3,000
2032		-		3,000
2033		532,837		3,000
2034		285,607		3,000
2035		-		-
2036		-
2037 and beyond		-		-
	$	2,065,423	$	42,000