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NOTE 7. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables)
12 Months Ended
Mar. 31, 2024
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

 

 

 

Year Ended March 31,

 

 

 

2024

 

 

2023

 

Tax expense at U.S. Statutory rate

 

$

4,298,193

 

 

$

5,689,294

 

State income taxes, net of Federal benefit

 

 

180,115

 

 

 

180,091

 

Research & development and manufacturing tax credits

 

 

(68,894

)

 

 

(255,713

)

Tax effect of Foreign-derived intangible income deduction

 

 

(1,125,817

)

 

 

(1,265,055

)

Other

 

 

59,289

 

 

 

49,762

Income tax provision

 

$

3,342,886

 

 

$

4,398,379