Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Taxes

Schedule of provision for income taxes

	For the Year ended June 30,
	2021		2020		2019
Current income taxes:
Federal	$	1,915	$	1,715	$	310
State		279		404		141
		2,194		2,119		451
Deferred income tax provision		235		165		771
Provision for income taxes	$	2,429	$	2,284	$	1,222

Schedule of effective income tax rate reconciliation

	2021				2020				2019
			% of				% of				% of
			Pre-tax				Pre-tax				Pre-tax
	Amount		Income		Amount		Income		Amount		Income
Tax at Federal statutory rate	$	3,639	21.0	%	$	2,269	21.0	%	$	2,822	21.0	%
Increases (decreases) in taxes resulting from:
Meals and entertainment		29	0.2	%		44	0.4	%		49	0.3	%
State income taxes, net of Federal income tax benefit		146	0.8	%		112	1.0	%		103	0.8	%
Foreign source income not subject to tax		(1,617)	(9.3)	%		(1,213)	(11.2)	%		(1,219)	(9.1)	%
R&D Credit		(523)	(3.0)	%		(523)	(4.8)	%		(408)	(3.0)	%
Foreign withholding tax		205	1	%		—	—	%		—	—	%
Release of accrued tax reserves		—	—	%		—	—	%		(151)	(1.1)	%
Uncertain Tax Positions		312	1.8	%		775	7	%		—	—	%
IRS examination settlements		—	—	%		832	7.7	%		12	0.1	%
Other, net		238	1.3	%		(12)	(0.1)	%		14	0.1	%
Effective tax rate	$	2,429	14.0	%	$	2,284	21.1	%	$	1,222	9.1	%

Schedule of deferred tax assets and liabilities

	Deferred Tax Assets (Liabilities)
	2021		2020
Accounts receivable	$	43	$	40
Inventories		346		374
Accrued liabilities		374		262
Stock based compensation expense		102		96
Intangibles		(454)		(300)
Property, plant and equipment		(539)		(484)
Revenue reserves		394		308
Other deferred tax liabilities		(613)		(408)
		(347)		(112)
Valuation allowance		—		—
Net deferred tax liabilities	$	(347)	$	(112)

Schedule of unrecognized tax benefits roll forward

	Tax		Interest		Total
Balance of gross unrecognized tax benefits as of July 1, 2018	$	221	$	—	$	221
Decrease to unrecognized tax benefits resulting from release of R&D credits due to the IRS audit		(151)		—		(151)
Increases to unrecognized tax benefits resulting from the generation of additional R&D credits		55		—		55
Balance of gross unrecognized tax benefits as of June 30, 2019	$	125	$	—	$	125
Increase to unrecognized tax benefits resulting from deemed dividends for investments in US property		682		83		765
Increases to unrecognized tax benefits resulting from the generation of additional R&D credits		59		—		59
Balance of gross unrecognized tax benefits as of June 30, 2020	$	866	$	83	$	949
Decrease to unrecognized tax benefits from deemed dividends for investments in US property		(3)		(20)		(23)
Decrease to unrecognized tax benefits resulting from the release of R&D credits due to the settled IRS audit		(185)		—		(185)
Balance of gross unrecognized tax benefits as of June 30, 2021	$	678	$	63	$	741