Note 10 - Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

($ in thousands)	2020		2019
Federal:
Current	$	4,942	$	3,706
Deferred		67		336
Total Federal		5,009		4,042
State & local:
Current		793		497
Deferred		97		(8	)
Total State & local		890		489
Foreign
Current		102		238
Deferred		-		-
Total Foreign		102		238
Total	$	6,001	$	4,769

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years Ended December 31,
($ in thousands)	2020			2019
Expected expense at statutory rate (21% in 2020 and 2019)	$	5,662		$	4,682
Increase (decrease) in income taxes resulting from:
Exempt income from Dominican Republic operations due to tax holiday		(942	)		(821	)
GILTI tax		438			410
State and local income taxes		766			369
Foreign Tax Credit/Expense		(30	)		(278	)
Meals and entertainment		27			48
Nondeductible penalties		20			-
Provision to return filing adjustments and other		60			359
Total	$	6,001		$	4,769

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

($ in thousands)	2020			2019
Deferred tax assets:
Asset reserves and accrued expenses	$	301		$	526
Inventories		528			471
State and local income taxes		169			192
Pension and deferred compensation		18			27
Net operating losses		298			388
Lease asset		269			-
Total deferred tax assets		1,583			1,604
Valuation allowances		(298	)		(372	)
Total deferred tax assets		1,285			1,232
Deferred tax liabilities:
Fixed assets		1,571			1,519
Intangible assets		6,587			6,756
Other assets		278			231
Tollgate tax on Lifestyle earnings		228			228
State and local income taxes		623			606
Lease Liability		269			-
Total deferred tax liabilities		9,556			9,340
Net deferred tax liability	$	8,271		$	8,108

Summary of Income Tax Examinations [Table Text Block]

	Earliest Exam Year
Taxing Authority Jurisdiction:
U.S. Federal	2017
Various U.S. States	2016
Puerto Rico (U.S. Territory)	2015
Canada	2015