Note 3 - Income Tax

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Income Tax Disclosure [Text Block]

3. Income Tax

As of each of September 30, 2016 and December 31, 2015, the Company had U.S. federal and state net operating loss carryforwards of $0 and $25 thousand, respectively. The Company had no alternative minimum tax credit carryforwards as of September 30, 2016 or December 31, 2015.  The Company establishes valuation allowances when necessary to reduce deferred tax assets to amounts expected to be realized.  As of September 30, 2016, the Company had no valuation allowance recorded. 

The effective income tax rate as of September 30, 2016 and December 31, 2015 was 39.1% and 39.8%, respectively.