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Note 7 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Provision for income taxes at the statutory federal tax rates $ 105,820 $ (5,684) $ (215,948) $ 176,341
Increase (reduction) in taxes resulting from:        
Dividends received deduction (7,871) (8,955) (21,567) (28,482)
Tax-exempt interest income (15,531) (16,433) (46,795) (60,249)
Proration of tax-exempt interest and dividends received deduction 5,715 5,939 16,683 21,775
Nondeductible expenses 11,523 8,404 25,751 24,450
Officer life insurance, net 263 3,579 896 (11,039)
Total 99,919 (13,150) (240,980) 122,796
Provision for income taxes at the statutory federal tax rates $ 105,820 $ (5,684) $ (215,948) $ 176,341