Provision for Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

	2017			2016
Current tax expense - federal	$	559,171		$	1,230,367
Current tax expense (benefit) - state		2,986			(1,396	)
Deferred tax (benefit) expense		(46,488	)		57,735
Provision for income taxes	$	515,669		$	1,286,706

Schedule of effective income tax rates

	2017			2016
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		3.6			1.5
Dividend on allocated ESOP shares		(7.2	)		(3.2	)
Qualified production activities		(2.8	)		(2.7	)
Stock-based compensation		1.8			(0.2	)
Other		1.7			(0.6	)
Effective tax rate		31.2	%		28.8	%

Schedule of deferred tax assets and liabilities

	2017		2016
Deferred tax assets:
Accrued expenses	$	195,915	$	151,210
ESOP		73,696		90,072
Stock-based compensation		81,659		74,287
Inventory - effect of uniform capitalization		36,935		27,266
Unrealized loss (gain) on investment securities		666		(513	)
Other		2,384		308
Total deferred tax assets	$	391,255	$	342,630
Deferred tax liability:

Property, plant and equipment - principally due
to differences in depreciation methods	$	294,267	$	293,309
Total deferred tax liability		294,267		293,309
Net deferred tax asset	$	96,988	$	49,321