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Note N - Income Taxes
3 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE N — INCOME TAXES
 
For the
three
months ended
June 30, 2020,
the Company recorded an income tax benefit of
$277,768,
or
24.4%
of loss before income taxes, compared to a tax provision of
$74,499,
or
27.7%
of earnings before income taxes, for the
three
months ended
June 30, 2019.
For both
three
month periods, the effective tax rate differed from the federal statutory rate due primarily to the inclusion of state tax expenses in the provision.