INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Provision For Income Taxes

The components of the provision for income taxes are as follows:

	2024		2023		2022
Currently payable:
Federal	$	73,538,314	$	85,978,954	$	62,670,986
State	4,678,030		6,242,525		4,310,783
Foreign	1,931,008		2,091,533		1,761,732
Total	80,147,352		94,313,012		68,743,501
Deferred income tax benefit:
Primarily federal	(12,421,412)		(17,735,110)		(17,777,777)
Provision for income taxes	$	67,725,940	$	76,577,902	$	50,965,724

Schedule of Effective Income Tax Rates Different from Statutory Federal Income Tax Rates

The effective income tax rates are different from the statutory federal income tax rates for the following reasons:

	2024		2023		2022
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal income tax benefit	0.8		0.8		0.9
Research tax credit	(1.8)		(1.3)		(1.8)
(Decrease) Increase in reserve for uncertain tax provisions	0.2		—		(0.2)
Non-deductible executive compensation	0.3		0.1		0.3
Non-deductible expenses	0.1		0.1		0.3
Foreign tax credit	(0.3)		(0.5)		(0.3)
Foreign derived intangible income deduction	(5.9)		(5.1)		(6.2)
Stock compensation	(0.4)		(0.4)		(0.6)
Other	0.3		0.5		0.4
Effective income tax rate	14.3	%	15.2	%	13.8	%

Schedule of Deferred Income Tax Assets And Liabilities

The tax effect of temporary differences which give rise to deferred income tax assets and liabilities at    December 31, 2024 and 2023, are as follows: 

	December 31,
	2024		2023
Assets:
Accruals not currently deductible	$	11,491,033	$	10,989,677
Research and development costs	80,310,573		70,252,363
Stock based compensation	14,266,075		15,536,416
Excess tax over book depreciation	14,747,529		7,060,777
Other	5,212,157		4,025,082
Total deferred income tax assets	$	126,027,367	$	107,864,315
Liabilities:
Goodwill	$	(51,613,808)	$	(47,185,855)
Intangible assets	(16,566,494)		(15,235,639)
Other	(4,692,233)		(4,329,062)
Total deferred income tax liabilities	$	(72,872,535)	$	(66,750,556)
Net deferred income taxes	$	53,154,832	$	41,113,759

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2024		2023		2022
Beginning of year	$	4,778,000	$	4,630,000	$	5,275,000
Additions based on tax positions related to the current year	1,350,000		1,046,000		951,000
Additions for tax positions in prior years	869,000		671,000		353,000
Reductions for tax positions in prior years	—		(31,000)		(26,000)
Reductions as a result of a lapse of the applicable statute of limitations	(1,199,000)		(1,538,000)		(1,923,000)
End of year	$	5,798,000	$	4,778,000	$	4,630,000