Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	Year Ended			Year Ended
	December 31,			December 31,
	2024			2023
Income Before Provision for Income Taxes	$	17,645,215		$	17,164,148
Statutory rate		21	%		21	%
Tax at statutory rate		3,705,495			3,604,471
State taxes, net of federal benefit		614,874			302,484
Release of FIN 48 reserve		(55,000	)		(121,000	)
Valuation allowance		199,459			-
Deferred Adjustments		-			125,935
Permanent differences		(407,446	)		(299,103	)
Return to provision adjustments		86,223			262,552
Other		(96,357	)		(5,984	)
Provision for income taxes	$	4,047,248		$	3,869,355

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

	December 31,			December 31,
	2024			2023
Inventories	$	350,927		$	176,022
Bad debts		36,480			23,197
Accrued liabilities		452,911			527,320
Prepaid expense		(233,550	)		(103,037	)
Depreciation and amortization		(3,089,986	)		(2,464,503	)
Capitalized costs		633,214			496,897
Research and development and other credit carryforwards		1,830,209			1,067,816
Right of use lease accounting		50,111			(149,876	)
Capital loss carryforward		199,459			-
Directors stock option plan		211,838			203,914
Total deferred tax asset (liability)		441,613			(222,250	)
Valuation allowance		(832,673	)		(33,000	)
Reserve for uncertain tax positions		-			(55,000	)
Total reserves & allowances		(832,673	)		(88,000	)
Net deferred tax liability, net of reserves	$	(391,060	)	$	(310,250	)

Summary of Operating Loss Carryforwards [Table Text Block]

Tax Year			R& D & Other
Expires	State NOLs		Credits
2025	$	-	$	3,000
2026		-		3,000
2027		-		3,000
2028		-		3,000
2029		-		3,000
2030		-		3,000
2031		-		3,000
2032		-		3,000
2033		-		3,000
2034		-		3,000
2035		-		3,000
2036		-		-
2037		-		-
2038		-		-
2039 and beyond		-		-
	$	-	$	33,000