Note 8 - Federal, State and Local Income Taxes (Tables)

3 Months Ended

Jul. 31, 2017

Notes Tables

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

	Three Months Ended July 31,
($ in thousands)	2017			2016
Current tax expense:
Federal	$	1,319		$	3,577
State and local		79			325
Current tax expense		1,398			3,902
Deferred tax expense (benefit):
Federal		(186	)		(189	)
State and local		(30	)		15
Deferred tax expense (benefit):		(216	)		(174	)
Income tax provision	$	1,182		$	3,728

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

	July 31,			April 30,
($ in thousands)	2017			2017
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM	$	17,747		$	17,742
Deferred non-cash post-employment compensation		(619	)		(619	)
Depreciation and amortization		391			454
Other		(114	)		(366	)
Total federal tax liability		17,405			17,211
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM		1,114			1,206
Deferred non-cash post-employment compensation		(39	)		(42	)
Depreciation and amortization		25			31
Other		78			(29	)
Total state and local tax liabilities		1,178			1,166
Deferred tax liability, long term	$	18,583		$	18,377

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

	Three Months Ended July 31,
	2017			2016
U.S. statutory federal tax rate		35.00	%		35.00	%
Increase (decrease) in tax rate from:
State and local income taxes, net of federal income tax benefit		0.73	%		1.99	%
Effect of dividends received deductions		-0.37	%		-0.06	%
Domestic production tax credit		-0.65	%		0.00	%
Other, net		0.09	%		0.03	%
Effective income tax rate		34.80	%		36.96	%