Note 9 - Income Taxes

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

9 . INCOME TAXES

The Company uses a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

The Company’s effective tax rate for

2017

and

2016

reflects the recognition of expected federal alternative minimum tax liabilities and interim period tax benefits and changes to its tax valuation allowance. In

2017,

the Company expects to fully utilize the special alternative minimum tax net operating loss carryforward from

2008

which allows for

100%

offset to the alternative minimum taxable income in subsequent years. Subsequent to the full utilization of the

2008

carryforward balance, the Company can only offset the normally allowed

90%

of alternative minimum taxable income with net operating loss carryforwards from other years.