Note 7 - Income Taxes

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note

7.

  Income Taxes

Generally, the Company’s combined effective tax rate is high relative to reported net income as a result of certain amounts of amortization expense, stock based compensation, and corporate overhead

not

being deductible and income being attributable to certain states in which it operates. In recent years, the majority of taxes being paid by the Company were state taxes,

not

federal taxes. The Company operates in

four

states which have relatively high tax rates: California, New York, Illinois, and Florida. As of

June 30, 2017,

the Company had federal income tax loss carryforwards of

$1.9

million.