Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Income Taxes

Schedule of provision for income taxes

	For the Year ended June 30,
	2022		2021		2020
Current income taxes:
Federal	$	2,161	$	1,912	$	1,765
State		300		265		418
		2,461		2,177		2,183
Deferred income tax provision		(214)		337		78
Provision for income taxes	$	2,247	$	2,514	$	2,261

Schedule of effective income tax rate reconciliation

	2022				2021				2020
			% of				% of				% of
			Pre-tax				Pre-tax				Pre-tax
	Amount		Income		Amount		Income		Amount		Income
Tax at Federal statutory rate	$	4,588	21.0	%	$	3,765	21.0	%	$	2,112	21.0	%
Increases (decreases) in taxes resulting from:
Meals and entertainment		29	0.1	%		29	0.2	%		44	0.4	%
State income taxes, net of Federal income tax benefit		238	1.1	%		135	0.8	%		122	1.2	%
Foreign source income not subject to tax		(1,534)	(7.0)	%		(1,647)	(9.2)	%		(1,089)	(10.8)	%
R&D Credit		(554)	(2.5)	%		(523)	(2.9)	%		(523)	(5.2)	%
Foreign withholding tax		—	—	%		205	1.1	%		—	—	%
Non-taxable debt extinguishment		(820)	(3.8)	%		—	—	%		—	—	%
Uncertain Tax Positions		20	0.1	%		312	1.7	%		775	7.7	%
IRS examination settlements		—	—	%		—	—	%		832	8.3	%
Other, net		280	1.3	%		238	1.3	%		(12)	(0.1)	%
Effective tax rate	$	2,247	10.3	%	$	2,514	14.0	%	$	2,261	22.5	%

Schedule of deferred tax assets and liabilities

	Deferred Tax Assets (Liabilities)
	2022		2021
Accounts receivable	$	42	$	43
Inventories		413		314
Accrued liabilities		454		374
Stock based compensation expense		179		102
Intangibles		(615)		(454)
Property, plant and equipment		(582)		(539)
Revenue reserves		466		393
Unrealized loss (gain) on marketable securities		90
Other deferred tax liabilities		(613)		(613)
		(166)		(380)
Valuation allowance		—		—
Net deferred tax liabilities	$	(166)	$	(380)

Schedule of unrecognized tax benefits roll forward

	Tax		Interest		Total
Balance of gross unrecognized tax benefits as of June 30, 2019	$	125	$	—	$	125
Increase to unrecognized tax benefits resulting from deemed dividends for investments in US property		682		83		765
Increases to unrecognized tax benefits resulting from the generation of additional R&D credits		59		—		59
Balance of gross unrecognized tax benefits as of June 30, 2020	$	866	$	83	$	949
Decrease to unrecognized tax benefits from deemed dividends for investments in US property		(3)		(20)		(23)
Decrease to unrecognized tax benefits resulting from the release of R&D credits due to the settled IRS audit		(185)		—		(185)
Balance of gross unrecognized tax benefits as of June 30, 2021	$	678	$	63	$	741
Increase to unrecognized tax benefits from deemed dividends for investments in US property		—		25		25
Balance of gross unrecognized tax benefits as of June 30, 2022	$	678	$	88	$	766