Note 9 - Income Taxes (Tables)

12 Months Ended

May 31, 2024

Notes Tables

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

	2024			2023
Deferred tax asset:
Net operating loss carryforward	$	1,051,595		$	2,084,595
Interest expense carryforward		-			172,126
Other		57,294			31,797
Total deferred tax asset		1,108,889			2,288,518
Deferred tax liability:
Depreciation and amortization recognized for tax in excess of financial		(5,160,509	)		(5,149,436	)
Valuation allowance		(793,337	)		(1,044,361	)
Net deferred tax liability	$	(4,844,957	)	$	(3,905,279	)

Summary of Net Change in Deferred Taxes [Table Text Block]

	2024			2023
Income recognized for tax in excess of financial	$	-		$	(1,497,136	)
Net operating loss carryforward		(1,033,000	)		207,885
Depreciation and amortization, tax reporting in excess of financial		(11,073	)		(1,602,550	)
Interest expense carryforward		(172,126	)		172,126
Valuation allowance		251,024			556,773
Other		25,496			1,317
Net change	$	(939,679	)	$	(2,161,585	)

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

	2024			2023
Current income tax -
Federal	$	282,153		$	-
State		(190,722	)		300,115
Deferred income tax		939,679			2,161,585
Provision for income taxes	$	1,031,204,		$	2,461,700

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

	2024			2023
Tax provision using statutory rates		21	%		21	%
State income taxes		8			8
Permanent differences		(0	)		(1	)
Change in state rates		(10	)		-
Change in valuation allowance		(2	)		-
Tax provision per consolidated financial statements		17	%		28	%