Note 9 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended March 31,
	2021		2020
Federal
Current	$	1,904,797	$	(408,360	)
Deferred		1,100,368		(971,540	)
		3,005,165		(1,379,900	)
State
Current		554,212		3,468
Deferred		238,121		(212,560	)
		792,333		(209,092	)
Total	$	3,797,498	$	(1,588,992	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended March 31,
	2021			2020
Income tax expense (benefit) at U.S. federal statutory rate		21.0	%		(21.0	)%
Current year state and local income taxes net of federal income tax benefit		4.1			(2.4	)
Other		(0.1	)		0.2
Provision for (benefit from) income taxes		25.0	%		(23.2	)%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	March 31,
	2021			2020
Deferred tax liabilities:
Depreciation	$	(1,945,788	)	$	(128,868	)
LIFO to average cost Section 481(a) adjustment		(301,110	)		(602,220	)
Total deferred tax liabilities		(2,246,898	)		(731,088	)
Deferred tax assets:
Unrealized derivative loss - OCI		3,564,059			—
Inventory capitalization		63,468			85,137
Postretirement benefits other than pensions		26,240			24,127
Net operating loss carryforward - State		—			15,012
Restricted stock award compensation		328,434			200,949
Other		129,121			44,717
Total deferred tax assets		4,111,322			369,942
Net deferred tax asset (liability)	$	1,864,424		$	(361,146	)