Note 5 - Income Tax Provision (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	December 31, 2024	December 31, 2023
Income before total federal income tax	532,771	625,729
Tax rate	21%	21%
Expected income tax expense (benefit)	111,882	131,403
Effect of tax-exempt income	(15,703)	(28,448)
Other	3,870	6,908
State income tax, net	621	25,749
Return-to-Provision adjustments	(126,482)	(89,557)
Prior period adjustments	120,021	2,741
Change in valuation allowance	(32,417)	(901,143)
Total	61,793	(852,347)

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

Deferred Tax Assets	December 31, 2024	December 31, 2023
Net operating and capital loss carryforwards	2,002,668	2,055,140
Unamortized start-up costs	63,302	84,402
Policyowner benefit reserves	2,203,982	2,353,584
Unrealized Losses	753,506	887,427
Tax deferred acquisition costs	1,013,358	903,654
Deferred tax asset valuation allowance	(309,267)	(341,684)
	5,727,548	5,942,523
Deferred Tax Liabilities
GAAP deferred acquisition costs	820,814	993,388
Fixed assets	84,775	89,760
8 year spread	38,905	77,810
Value of business acquired	490,046	509,454
Other GAAP to tax differences	551,125	383,203
	1,985,665	2,053,616
Net deferred tax	3,747,111	3,888,907