Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

	Year			Year
	December 31,			December 31,
	2023			2022
Income Before Provision for Income Taxes	$	17,164,148		$	7,732,194
Statutory rate		21	%		21	%
Tax at statutory rate		3,604,471			1,623,761
State taxes, net of federal benefit		302,484			20,438
Release of FIN 48 reserve		(121,000	)		(414,000	)
Deferred Adjustments		125,935			-
Permanent differences		(299,103	)		(17,334	)
Return to provision adjustments		262,552			(22,681	)
Other		(5,984	)		(19,393	)
Provision for income taxes	$	3,869,355		$	1,170,791

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

	December 31,			December 31,
	2023			2022
Inventories	$	176,022		$	221,441
Bad debts		23,197			5,757
Accrued liabilities		527,320			677,728
Prepaid expense		(103,037	)		(136,419	)
Depreciation and amortization		(2,464,503	)		(3,111,224	)
Capitalized Costs		496,897			629,085
Research and development and other credit carryforwards		1,067,816			443,689
Right of use lease accounting		(149,876	)		(80,376	)
Directors stock option plan		203,914			180,761
Total deferred tax liability		(222,250	)		(1,169,558	)
Valuation allowance		(33,000	)		(39,000	)
Reserve for uncertain tax positions		(55,000	)		(176,000	)
Total reserves & allowances		(88,000	)		(215,000	)
Net deferred tax liability, net of reserves	$	(310,250	)	$	(1,384,558	)

Summary of Operating Loss Carryforwards [Table Text Block]

Tax Year			R& D & Other
Expires	State NOLs		Credits
2024	$	-	$	3,000
2025		-		3,000
2026		-		3,000
2027		-		3,000
2028		-		3,000
2029		-		3,000
2030		-		3,000
2031		-		3,000
2032		-		3,000
2033		-		3,000
2034		-		3,000
2035		-		-
2036		-		-
2037		-		-
2038 and beyond		-		-
	$	-	$	33,000