Provision for Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

	2016			2015
Current tax expense - federal	$	1,230,367		$	1,402,033
Current tax (benefit) - state		(1,396	)		(20,386	)
Deferred tax expense (benefit)		57,735			(66,958	)
Provision for income taxes	$	1,286,706		$	1,314,689

Schedule of effective income tax rates

	2016			2015
U.S. federal statutory income tax rate		34.0	%		34.0	%
Increase (reduction) in rate resulting from:
State franchise tax, net of federal income tax benefit		—			0.1
ESOP cost versus Fair Market Value		1.5			1.5
Dividend on allocated ESOP shares		(3.2	)		(6.7	)
Qualified production activities		(2.7	)		(2.7	)
Stock-based compensation		(0.2	)		(0.3	)
Other		(0.6	)		3.3
Effective tax rate		28.8	%		29.2	%

Schedule of deferred tax assets and liabilities

	2016			2015
Deferred tax assets:
Accrued expenses	$	151,210		$	295,673
ESOP		90,072			102,355
Stock-based compensation		74,287			23,602
Inventory - effect on uniform capitalization		27,266			12,407
Unrealized (gain)/loss on investment securities		(513	)		2,361
Other		308			638
Total deferred tax assets	$	342,630		$	437,036
Deferred tax liability:
Property, plant and equipment - principally due
to differences in depreciation methods	$	293,309		$	327,106
Total deferred tax liability		293,309			327,106
Net deferred tax asset	$	49,321		$	109,930