Income Tax (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities at December 31, 2020 and 2019 are set forth below:

	December 31, 2020			December 31, 2019
Deferred tax assets:
Federal NOL Carryforward	$	1,794,200		$	2,316,300
UNICAP		193,000			777,800
Lease Liability		176,700			-
Stock Based compensation		9,200			-
Investments		57,100			-
Total assets		2,230,200			3,094,100
Deferred tax liabilities:
Property and equipment		1,705,400			2,922,500
Right of use assets		183,500			-
Total liabilities		1,888,900			2,922,500
Subtotal deferred tax assets (liabilities)		341,300			171,600
Valuation Allowance		(341,300	)		-
Net deferred tax assets (liabilities)	$	-		$	171,600

Schedule of Components of Income Tax Expense and the Effective Tax Rates

The components of income tax expense and the effective tax rates for the years ended December 31, 2020 and 2019 are as follows:

	Years Ended December 31,
	2020			2019
Current:
Federal	$	-		$	-
Total Current		-			-
Deferred:
Federal		(224,500	)		(634,600	)
Total Deferred		(224,500	)		(634,600	)
Valuation Allowance		341,300			-
Total Income Tax (Benefit) Expense	$	116,800		$	(634,600	)

Schedule of Expected Income Tax Rate

The expected tax rate differs from the U.S. Federal statutory rate as follows:

	2020			2019
US Federal statutory rate		21	%		21	%
Adjustment for Deferred Tax		(16.3	%)		124	%
PPP Loan forgiveness		3.2	%		0	%
Change in Federal Valuation Allowance		(9.4	%)		0	%
Non-controlling interest		(1.3	%)		0	%
Other		(0.4	%)		0	%
Effective Tax Rate		(3.2	%)		145	%