Employee Benefit Plan

12 Months Ended

Jun. 30, 2023

Employee Benefit Plan

Employee Benefit Plan [Text Block]

Note 12. Employee Benefit Plan

The Company has deferred savings plans which qualify under Internal Revenue Code Section 401(k). The plans covers all employees of Dynatronics Corporation who are age 21 or older. For fiscal year 2023 and 2022, the Company made matching contributions of 50% of the first 6% of each employee's contribution up to a maximum of $3,000, with a four-year vesting schedule. Contributions to the plan for fiscal years 2023 and 2022 were $241,139 and $188,334, respectively. Matching contributions for future years are at the discretion of the Board of Directors.