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INCOME TAXES (Tables)
12 Months Ended
Apr. 30, 2014
INCOME TAXES [Abstract]  
Components of deferred tax liabilities and assets
Deferred taxes are determined based on the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provision of the enacted tax laws. Significant components of the Company's deferred tax liabilities and assets as of April 30, 2014 and 2013 are as follows (in thousands):
 
 
April 30, 2014
 
April 30, 2013
Deferred tax liabilities:
 
 
 
Depreciation
$
(352)
 
$
(550)
 
 
 
 
 
 
Deferred tax assets:
 
 
 
 
 
Accounts receivable allowance
 
28
 
 
18
Inventory and other allowances
 
1,548
 
 
1,734
Vacation accruals
 
111
 
 
101
Total gross deferred tax assets
 
1,687
 
 
1,853
Less valuation allowance
 
-
 
 
-
Net deferred tax assets
$
1,335
 
$
1,303

Reconciliation of the federal statutory income tax rate to the effective tax rate
The reconciliation of the federal statutory income tax rate to the effective tax rate is as follows:

 
April 30, 2014
 
April 30, 2013
Statutory federal income tax rate (benefit) expense, net of noncontrolling interest
 
34.0%
 
 
(34.0)%
State income tax net of federal benefits
 
0.0%
 
 
0.0%
Permanent tax
 
26.9%
 
 
3.7%
Other
 
(38.0)%
 
 
(54.3)%
 
 
22.9%
 
 
(84.6)%

Income tax expense
Income tax expense:
 
 
 
 
 
Deferred income tax (benefit)
$
(33)
 
$
(136)
Current income tax (benefit)
 
66
 
 
(680)
Total income tax expense (benefit)
$
33
 
$
(816)