Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	Year			Year
	December 31, 2022			December 31, 2021
Income Before Provision for Income Taxes	$	7,732,194		$	7,362,942
Statutory rate		21	%		21	%
Tax at statutory rate		1,623,761			1,546,218
State taxes, net of federal benefit		20,438			560,080
Release of FIN 48 reserve		(414,000	)		-
Permanent differences		(17,334	)		(397,016	)
Return to provision adjustments		(22,681	)		362
Other		(19,393	)		-
Provision for income taxes	$	1,170,791		$	1,709,644

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

	December 31, 2022			December 31, 2021
Inventories	$	221,441		$	190,588
Bad debts		5,757			5,549
Accrued liabilities		677,728			373,932
Prepaid expense		(136,419	)		(210,244	)
Depreciation and amortization		(3,111,224	)		(3,638,314	)
Capitalized Costs		629,085			-
Research and development and other credit carryforwards		443,689			450,377
Right of use lease accounting		(80,376	)		4,860
Directors stock option plan		180,761			185,201
Total deferred tax liability		(1,169,558	)		(2,638,051	)
Valuation allowance		(39,000	)		(47,319	)
Reserve for uncertain tax positions		(176,000	)		(590,000	)
Total reserves & allowances		(215,000	)		(637,319	)
Net deferred tax liability, net of reserves	$	(1,384,558	)	$	(3,275,370	)

Summary of Operating Loss Carryforwards [Table Text Block]

Tax Year Expires	State NOLs		R& D & Other Credits
2023	$	-	$	6,000
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		-		3,000
2034		532,837		3,000
2035		285,607		-
2036		-		-
2037 and beyond		-		-
	$	2,065,423	$	39,000