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NOTE 6. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables)
12 Months Ended
Mar. 31, 2023
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

 

 

 

Year Ended March 31,

 

 

 

2023

 

 

2022

 

Tax expense at U.S. Statutory rate

 

$

5,689,294

 

 

$

3,674,961

 

State income taxes, net of Federal benefit

 

 

180,091

 

 

 

136,144

 

Research & development and manufacturing tax credits

 

 

(255,713

)

 

 

(42,688

)

Foreign-derived intangible income deduction

 

 

(1,265,055

)

 

 

(662,467

)

Other

 

 

49,762

 

 

 

(113,638

Income tax provision

 

$

4,398,379

 

 

$

2,992,312